It’s a time for bargains if you’re buying property

The residential property market is not quite out of the doldrums yet, but if you want to buy property at bargain prices, now is the time to do so, property experts say.

This is largely because a number of homeowners are selling their properties in distressed sales or through sales in execution.

Anthony Miller, the managing director of property evaluation company Lightstone, says distressed-sale properties are being sold at a discount of between 30 percent and 50 percent of market value, and sale-in-execution notices are still fairly high.

“These are great times if you are looking for bargains in the property market,” he says.

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