Now is a good time to buy property, an expert has said.

According to David Amstell, founder of online property website, the current economic climate is well-suited for Britons looking to invest in new property.

"It's an excellent time to buy, full stop ... If you haven't bought yet then it's a good time to buy,"he said.

His comments come as private landlords could be on the hunt for bargains as they look to add property to their portfolios while house prices are low.

The latest Rightmove house price index, published yesterday, showed that the average asking price for a UK home fell 7.3 per cent during 2008, to an average of £213,570 in December.

For cash-ready private landlords, now could be a good time to invest - as research from the Association of Residential Letting Agents showed that last month nine in ten landlords were neither selling or purchasing rental properties.ADNFCR-2002-ID-18982960-ADNFCR

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