Do your homework before buying, expert says

News Category: Marketing

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Property rental software users should do their homework before adding to their portfolios, an expert has suggested.

Letting agents and landlords might be able to find bargain homes in the current economic climate, but the most important factor in yielding a positive investment is a home's location, said David Bates, business development manager at property development firm dandara.

His comments come after house prices in the UK have fallen by 13.9 per cent in the last 12 months, with the average value at £158,442, Nationwide reported in its November 2008 house price index.

However, Mr Bates said: "There are some great deals but you've still got to do your homework on where you buy. It's all about location."

Residential lettings found close to universities or hospitals might benefit, he suggested.

Transport links such as roads, rail and close proximity to a major airport might also increase demand, Mr Bates continued.

The property development expert also advised buyers to research the economic growth, potential employment opportunities and financial outlook of the area where their potential purchase is found.

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