Price falls mean opportunities for landlords
Published: 10-Jul-2008
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Signs that the rate of property price falls is quickening have provided a further fillip to landlords looking to add to their portfolio.
According to the latest house price index from Halifax, the price of an average home fell by two per cent during June.
This followed declines in April and May and meant that the value of a home has fallen by 6.1 per cent over the last six months.
The average property is now priced at £180,344 - down almost £20,000 from the peak of the property market last August when the average home cost £199,600.
Howard Archer, chief UK and European Economist at Global Insight, said: "The latest data on the housing market continue to be very worrying, and there appears to be no let up in the current downward spiral."
News of the latest data comes as a study from buy to let specialist Paragon Mortgages found that a good deal ona property would encourage 74 per cent would encourage them to buy, even in the current climate.
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