Buy-to-let investors may be encouraged to sell

News Category: Management

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Buy-to-let investors may be more encouraged to sell their properties as house prices look set to fall.

According to financial website Fool.co.uk, the average house price will fall by 20 per cent to £157,000 in 2008, and there will be five sellers for every four home buyers over the coming five years.

Other figures show that one in ten people who are planning to buy a house have accelerated their house-moving plans, and that three in eight of those people planning to buy will do so this year.

Fool's head of personal finance, David Kuo, said: "The long-overdue correction in the property market will allow many people who have been waiting to move house to finally realize their dream.

"Quite often people will ask how much they can borrow when they want to buy a property. But that is altogether the wrong question. Instead, they should ask themselves how much they can afford torepay.

"It is also worth remembering that no one ever rings a bell at the top or the bottom of the property market. So, home buyers should not be unduly concerned about getting the timing right."

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