Many investors are failing to purchase properties at the right time because they fear they will miss the bottom of the market.
This is according to Naomi Heaton, chief executive at London Central Portfolio, who said investors need to complete a transaction in order to make the most of the significant discounts offered on properties.
"Those entering the market in recent months have been ahead of trend and it often transpires that the early bird gets the worm," she continued.
Market conditions will begin to pick up, Ms Heaton added, which should prove a good enough incentive to get people buying property in the capital.
Knight Frank reported that prime central London property prices rose by 1.6 per cent in May compared to a 0.4 per cent increase in April.
Prices have fallen by 20.1 per cent in the past 12 months and by 22.3 per cent from their peak, according to figures from the estate agent.
See Also: Property News (6680)
Date Published: 25 June 2009
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