If you’re wondering if now is a good time to get into buy to let, here’s some interesting anecdotal evidence for you.
I’ve just got back from my local property auction where, once again, it was standing room only.
In his introductory remarks the auctioneer said what I’ve been thinking for a while. He said, “If you’re thinking of buying, now is the time to do it. The market is more active now than at any time for the last 6 years”.
Ok, you might argue he’s got a vested interest in talking the property market up, particularly before his own property auction, but the evidence from all of the auctions I’ve attended recently (and not just his) is that the auctions are busy and that property is selling.
And not just selling – selling well and at good prices.
It’s often said that auctions give a good reflection of where the general property market is going, and are often slightly ahead of the overall market. If that is the case then we’ll see the general market picking up even more over the next few months.
So, if you are thinking of getting into property investing, or if you are thinking of adding to your buy to lets, now could well be the time to do it.
Here’s to successful property investing.
PS Since writing this I’ve just read a report by Connells, valuers and surveyors, who do a lot of valuations for mortgage lenders. They say that valuation activity is at levels not seen since March 2007, and that first time buyer activity in March 2013 was the strongest for 6 years.
It looks like my auctioneer is right.