The news that property prices have increased by 0.2% in the last quarter has been welcomed by many landlords, but there is a warning that they should consider selling now.
The increase in property prices is a result of the current economic climate, with low interest rates and an increase in demand for housing. This has caused the value of property to rise, with the average house price now standing at £225,000.
However, while the increase in property prices is good news for landlords, it is also a sign that the market is becoming increasingly competitive. With more buyers looking to purchase property, landlords may find it difficult to find tenants willing to pay the higher prices.
This is why experts are urging landlords to consider selling now, rather than waiting for prices to continue to rise. Selling now could mean that landlords are able to take advantage of the current market conditions and get a better return on their investment.
In addition, selling now could also help landlords avoid any potential risks associated with the property market in the future. With the economy still uncertain, there is always the possibility that property prices could fall again in the near future.
For landlords who are considering selling their property, it is important to seek professional advice before making any decisions. An experienced estate agent can provide valuable advice on the best way to maximise returns and minimise any potential risks.
Overall, while the news of a 0.2% increase in property prices is welcome news for landlords, it is important to remember that the market is becoming increasingly competitive. Therefore, it may be wise for landlords to consider selling now, rather than waiting for prices to continue to rise.