News
Property Investor Show hailed a success
18/04/08
This year’s Property Investor Show in Birmingham has been hailed a huge success by organisers, exhibitors and visitors.
Despite a drop in footfall from last year, the higher quality of customer led to more potential for business to be done.
Almost 5,000 people walked through the doors of the NEC for the three-day event last weekend. (April 11 to 13)
The show is aimed at people who are serious about making money from property, in Britain and abroad.
But despite this figure being 16 per cent down on the 2007 show, the quality of visitor was higher than ever, according to an overwhelming majority.
And the mood of exhibitors and visitors remained buoyant, despite widely-reported concerns about the economy.
That was especially true among the Buy-to-Let sector of businesses, which are enjoying a boom in rental income as amateur property buyers increasingly choose not to buy in the current market.
Saturday was the busiest day, with 1,761 visitors, followed by Sunday with 1,592 and Friday with 1,450. (Total 4,803)
Nick Clark, Managing Director of Homebuyer Events which runs the Property Investor Show, said: “The consensus among exhibitors and visitors was that despite visitor numbers being slightly down on last year, the show saw more serious investors.
“Our registration questionnaire confirmed that people attending were generally older, about 20 per cent richer than in previous years and were more likely to already be landlords.
“Feedback also indicated that current market conditions were ideal for people who are serious about making money from property.”
He added: “This slight downturn in property prices is an expected and natural correction to a market that had grown unrealistically in recent years. It’s clear that this year will be good for buying property, and from our panel of experts, the only question is whether to buy right now, or wait a short while.
“It can always be a good time to buy property, both in Britain and abroad, as long as you get it right and people came to see our show to make sure they do just that.”
Birmingham-based property expert and author of Property Magic, Simon Zutshi, was delighted with the show.
He said: “Although numbers were slightly down we thought the quality of visitors was higher.
“This is probably because amateur investors are being put off by the current market conditions, whereas professional investors realise that now represents a fantastic time to invest as long as you know what you are doing.”
Should you buy property now?
One seminar at the Property Investor Show saw experts debate whether now was the right time to invest in property.
Cases were argued for buying right now when prices are beginning to dip, or sitting tight and waiting for prices to fall further before taking the plunge into buying.
Simon Zutshi said investors should not wait for the market conditions to change in favour of sellers.
“Right now there are plenty of motivated sellers who want rid of their property for a variety of reasons, including unaffordable mortgage payments, or fear of a collapsing market,” he said.
“As prices are falling, now is the right time to pick up a bargain, while there are plenty of homes to choose from without as much competition from other investors, especially for those who see it as a long-term investment.”
But JontyCrossick, director of property business Ready 2 Invest, argued the market would drop by up to 17.5% below peak value - the current dip is around 2.5%. He said anyone wanting to get the best bargain should wait until the market was down by 10% before making a purchase.
ENDS
For more information please contact Clive Reeves on 01543 501111 or email clive@wardlovett.com