Boiling market needed for property flipping

Share This:

• 

Text size: A A A

A "boiling" property market is required if short-term investors are to see a healthy return, it has been claimed.

Pierre Williams, head of communications for property investment firm Inside Track, suggests that the time may not now be right for such efforts.

He warns against undertaking property flipping - buying property which has been undervalued and then selling it on quickly for a profit.

"Its true that a lot of people made a lot of money flipping, but only when the market was really boiling," Mr Williams comments.

But he contends that it would be difficult to make "decent money" from the process given the current market conditions.

"If the markets not booming and you end up buying a property that you cant sell for what you paid for it, then obviously thats no good," he adds.

The observations follow warnings from the International Monetary Fund that the UK could see a housing market crisis similar to that which recently hit the US.

Important Notice
This guide is intended for general information only and is not intended as, and does not constitute, any form of advice, recommendation or endorsement by us of any particular product(s) or services and you should rely on your own further research and professional advice in relation to your specific requirements and circumstances before purchasing any products or services. Use of this guide is subject to the Terms of Use of the KnowYourMoney site.