Is there opportunity in the UK Property market? We say no! Rob Best thinks different! Who's right?
11th March 2008
At this year's Homebuyer Show, held just last weekend at ExCeL in London, property auction expert Rob Best held a seminar on the UK market, the Credit Crunch and he believes it might all add up to a great year for property investors. Property Secrets' Investment Analyst Noreen Lucey was in attendance.
Rob's views are controversial - to our mind anyway. We don't see opportunity in the UK for at least 12 months.
PS CEO Neil Lewis says: "My personal reading of the market is that in April there will be some bloodletting in the City of London.
"This is a sentiment-driven change... But that sentiment has remained negative for some time, and is now having a very real economic impact."
"You should stay away from making additional new investments into UK property for the next 12 months.
"Don't spend anymore money in the UK now!
"The bottom line is that the UK will probably take 36 months before we see any serious property price growth (above 4% per annum). Therefore, there is no point in making new additional investments."
But it's always interesting to hear a different view!
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