22nd January 2009
A property expert has predicted that the Welsh property market could be reaching rock bottom, meaning that property investors with the available capital could sneak in and grab a bargain.

While the low prices mean that the housing climate is not beneficial for sellers, investors who act now could reap the benefits when the market returns to its previous condition.

House prices in Wales have fallen almost a fifth (17 per cent) in the past 12 months, according to Rightmove commercial director Miles Shipside, who believes the market may be beginning to bottom out.

"The speed with which prices have declined has been worrying, but it does mean we are potentially reaching the bottom of the market sooner," he said.

The average home in Wales is now valued at just £138,000, while the UK average sits at a considerably higher £213,570.

Meanwhile, the number of quality properties available in London was recently highlighted by the story of a group of artists who are believed to be squatting in a multi-million pound home.

Investors will be rubbing their hands at the thought of grabbing a bargain in the current climate.




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