Great deals available on 'larger properties to renovate'

In the current property it is possible to get "better deals on anything", according to an expert.

Kate Faulkner, managing director of Designs on Property, has described now as a "fantastic" time for investors, especially those that want to renovate an existing inefficient home.

Ms Faulkner claims that most people who buy and sell property are people who are trading up.

"You make more money, typically, when you trade up in a falling market than you do if you are buying in a rising market," she said

Bargain land and property could be up for grabs in the north, as that is where recent research from the Royal Institution of Chartered Surveyors has revealed the widest gap between selling and asking prices to be.

The average house is selling for nine per cent below asking price, while in the north it is 12.5 per cent.