Landlords 'adding to property portfolios'
News Category: Industry News
Published: 10-Nov-2008
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One in five landlords are about to snap up new properties despite the financial pressures caused by the credit crunch, according to research by The Money Centre.
The study found that optimism is high among landlords, with higher rental yields offsetting increases in mortgage rates since the credit crisis took hold of the UK property market, reports Property Wire.
Lynsey Sweales, director of The Money Centre and a landlord, told the online property portal that landlords should take a long-term view, noting that by purchasing property now, they will boost cash flow and increase opportunities for capital growth potential in the future.
"It is vital that landlords continue to buy property not just to expand their portfolio but to ensure tenants have properties to rent and to help the property transaction market," she added.
Her comments come after the Halifax house price index, published in October, revealed a 13.7 per cent annual drop in the price of a typical home in the UK.
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