Property is a 'long-term investment'

Those looking to invest in UK property during the current market slowdown need to be prepared to take a long-term view.

That is the advice of the Property Investors Network's (PIN) founder, who asserted that, as it is unlikely that there will be a house price correction anytime soon, property should be seen as a "long-term investment".

Simon Zutshi commented: "If you are getting into [property investment], great - but because prices are going to be shaky for the next couple of years you are going to have to wait a long time for prices to come up; it's got to be a long-term investment."

He maintained, however, that falling house prices represent a great opportunity for investors to build up their buy-to-let portfolios.

Mr Zutshi declared: "I absolutely recommend getting into property now."

He said that buyers "can get a fantastic price" on property due to falling house prices, which decreased by 1.1 per cent in April, according to data from Nationwide.

Property Investment News posted on 14/05/2008 12:37:50