Bargains starting to appear, expert says

News Category: Management

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Landlords could soon benefit from falling house prices in the UK as bargains start to appear on the property market, an expert has said.

Yolande Barnes, head of residential research at Savills estate agents, told the Yorkshire Post that house prices will continue to fall in 2009, but noted that many people are storing cash and could soon purchase property in the current climate.

"An awful lot of people holding cash are keen to buy, and I think they reckon the bargains are starting to appear," Ms Barnes said.

The rate of house price depreciation will determine the speed at which buyers return to the property market, she added.

Ms Barnes went on to add that buy-to-let investors who are comfortably servicing debt through rental income have little reason to sell in current conditions.

Rics data released last month showed that 14 per cent more chartered surveyors reported a rise rather than a fall in new buyer enquiries.

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