London Landlords 'poised to capitalise' in 2009

News Category: Industry News

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Property owners with multiple buy-to-let mortgages will be able to capitalise on house prices in early 2009, it has been suggested.

London-based estate agent Cluttons has predicted that property prices in London are set to moderate in the new year because sellers are now being more realistic about their asking prices.

The firm claims that house prices in the capital could bottom out early in 2009, a trend which would pave the way for investors to return into the market by buying properties before the market begins to recover.

Richard Cluttons, divisional head of residential agency, said: "This is particularly true of multiple buy-to-let landlords with equity in their portfolios, who want to take advantage of low prices and cheaper mortgages as a result of their strong equity position."

Falling house prices and interest rate cuts prompted a more buyers to return to property market last month, according to a survey by Rics.

Landlords with large portfolios might consider rent collection software, given that the NLA recently revealed that 71 per cent of rental property owners expect tenants to fall behind on their payments in 2009 as a result of the economic climate.

Find out more about letting agent software.