I have blogged about it before but it really does look like people with any extra money lying around are starting to choose property as the best way to invest it. Contributing factors to this are, of course, low interest rates and an untrustworthy stocks and shares market.
Many people who used to rely on these methods for investing and growing their money are now being attracted to the property market in quite substantial numbers. Cullen property who are based in Edinburgh seem convinced that this is happening and is likely to be an option chosen by certain types of people, namely those with enough cash to finance a substantial deposit. Managing Director of Cullen, Malcolm Warrack was recently quoted as saying
“Most of the potential investors we have recently spoken to are looking for fairly priced quality properties with ‘loans to value’ of about 50% to 60%.
“We are starting to see sellers accepting realistic offers which offer investors reasonable deals, ensuring rental return and, eventually, capital growth.
He also seems to be of the opinion that the Edinburgh market, at least, may be bottoming out. Making this an ideal time for people in this lucky position to snap up a bargain and have their investment problems solved at the same time.
Let’s hope he is right, that could only be a good thing for the rest of us.
