Buying signals are 'flashing'

It has been claimed that now is the time to buy as UK property prices are set to rise substantially when the market picks up.

Simon Preston, chairman of iammoving.com, believes that when they do rise they will increase ahead of the rate of inflation and now could be the time for a savvy self builder to pick up a bargain plot.

"When most people are worried about a market, it is usually a good indication for a strategic investor as a buying signal," he said.

"It may well be that the next 12 to 18 months is a good time for people to invest in property," he furthered.

Mr Preston suggests that the housing market could hit bottom next year.

The average asking price for a property in November stood at £222,979, down 7.1 per cent year on year, according to the Rightmove House Price Index.