Good time to make long term investments

Published: May 14, 2008

Now may be a good time for people to take out buy-to-let mortgages and invest in the property market.

The Property Investment Network (PIN) said that falling house prices mean that buyers can get their hands on a bargain.

However, the firm also highlighted that buyers should see their properties as long term investments and should not expect to make quick returns.

"It's a great time to buy because you can get a fantastic price," said PIN founder Simon Zutshi.

"Because prices are going to be shaky for the next couple of years you are going to have to wait a long time for prices to come up; it's got to be a long-term investment.

"Property is a long-term investment; it's not a get rich scheme. You need to buy now at a great price but be prepared to hold it for a while," he continued.

People with buy-to-let mortgages are also benefiting from record rents in the UK.