Though most sources agree that the average price a property is expected to fetch has stabilised to where they were prior to the credit crunch, this newfound ‘optimism’
The research, carried out by the Young Index also highlighted the fact that the number of landlords who are expecting an increase on London’s (already steep) property prices, or indeed expect them to stay the same has remained relatively stable at 78%, with an increase of only 1.48% expected!
Property prices outside of London however, are subject to quite different expectations. People responding to the survey expected property values to fall on average by 0.58%. Despite expecting a fall in property prices, this still represents an improvement as the previous quarters expectations were for a 1% drop.
While previously buy to let investors would be looking to take advantage of the static (and indeed falling) property prices, difficulties in securing funding have ensured that these numbers have also fallen. In addition to this, many potential sellers answered when asked that they intended to hold onto their properties for at least the next year, with 47% committing to ten years.
Like any market the property market has its ups and its downs, for a landlord or indeed anyone entering the buy to let sector, the key to success is effectively navigating these peaks and troughs to maximise profits while minimising losses.
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