Price slowdown ‘not a problem for buyers’
People who view buying a property simply as a way of owning a home have no need to worry about the slowdown in the housing market, an expert said today.
The Council of Mortgage Lenders recently predicted that house price inflation would all but grind to a halt during 2008, with the organisation estimating that average property values will only increase by one per cent in 12 months.
However, Dominic Mansley, managing director of independent financial advisers Key Financial Consultants, said that was only really a problem for people who see property purchases merely as an investment.
Those who want to buy in order to secure their own home and move out of rented accommodation should press ahead with their plans providing they can afford the mortgage repayments, explained Mr Mansley.
"It doesn't really matter whether the value goes up or down - because it isn't an investment, it's a home," he added.
© Adfero LtdYou can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.