Haart estate agents reports property is now a sound investment in the current financial situation

November 04, 2008 (PRLEAP.COM) Business News
Haart estate agents have recently reported that investors who have lost faith in the stock market and banks, now want something tangible for their money and are increasingly turning to bricks and mortar as a safe place to invest their funds. Estate agents are currently noticing a strong growth in interest in all types of property, from dilapidated terraced houses to top-end mews apartments.

Haart Managing Director Russell Jervis said: "The credit crunch has pushed the price of property down, making it an increasingly sensible investment. What's more, the cash buyer is in a far stronger position to negotiate price reductions than the person with a mortgage."

According to haart estate agents, part of Britain's largest independent estate agency, Spicerhaart, capital prices have plummeted by between 15 and 20 percent in recent months as mortgage lenders tighten the purse strings. The sharp drop in values means residential property in particular is an increasingly attractive long term investment for investors with liquid funds.

Haart Chief Executive Paul Smith said: "The trend we are noticing very strongly is for people to turn their back on paper investments and put their spare cash into something they can touch and feel.

"In the short term, the property market may go up and it may also go down, as we've seen. But the canny cash buyer can currently see income yields of up to eight percent. Equally importantly, their money is safer in property than in other forms of investment or savings which may no longer be the safe options they appeared."

For further information on buy to let opportunities, please contact haart.