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Bargains in the Property Market04/07/2008
BARGAIN hunting investors are snapping up buy-to-let properties following huge incentives from developers. With large discounts and rental guarantees on offer, many investors see the current housing market as offering many opportunities to make considerable returns in the mid to long term.
Recognising that the withdrawal of mortgages over 75 per cent for first-time buyers means many wannabe homeowners will be forced to rent. Combined with likely interest rate cuts and an endemic housing shortage - the Government estimates that three million new homes will be needed by 2020 - and the buy-to-let market should dip, but not crash.
Some analysts argue that most investors will keep hold of their portfolios in order to assess how the market will pan out. They state that even if house prices fall by six per cent over the next 18 months, investors who bought at a good level of discount would still be sitting on a gain of 50 per cent.
Canny investors are aware that by taking advantage of discounted property they are able to acquire prime city centre property, which is prominently located close to the city’s main shopping areas and offers excellent long term potential.
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