Now is a fantastic time for buy-to-let insurance holders to upgrade their properties, an expert asserts.
Ed Mead, director of sales at Douglas and Gordon, states the belief that it is better to wait before selling existing properties is misguided as the market could continue to fall.
He says this would mean a buy-to-let insurance owner could sell a house and, by the time they acquire another, the price on this could have fallen further.
"If you are buying and selling in the same market then it is a fabulous time to upgrade and you only get that chance once in a generation," he asserts.
Mr Mead says the macho property culture leads to buy-to-let owners refusing to sell a house for less than they paid for it, despite the potential gains this could provide them.
In a Nationwide survey, house prices were found to have fallen 16.6 per cent in the last year.
