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'Time to come back to the property market'

Time to re-enter the marketReal estate firm Savills claims people who left the property market could now be considering getting back in and purchasing homes.The housing market could be buoyed in the coming months as people feel it is the right time to buy a property again, according to an expert.

Global real estate service provider Savills claims some rentals tenants who had sold their own home have been waiting and "sitting out the worst of the falls" could now be thinking "the time is right" to purchase a house and re-enter the market.

Lucian Cook, director of residential research at the firm, said renters with "cash sitting in the bank" are considering buying – which could see householders ready to spruce up their properties with home improvements to make them more attractive.

He added: "With other asset classes offering poor returns, many are feeling the time is right to re-enter the market. Our experience shows that for those who are able to invest at this stage in a market, the financial returns are significant."

Recent research by Unbiased.co.uk found that 25 per cent of property owners are planning large-scale home improvements in 2009, with eight per cent of these doing so to add value to their houses.
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Article Added: 06/05/2009 11:35:53
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