Rate cuts not enough, expert says

News Category: Industry News

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Now could be a good opportunity for letting agents and landlords who use property software to make additions to their portfolios.

Residential Investments' Paul Clifton said that the economic downturn and its affect on the UK housing market has created more chances to purchase high-quality properties at affordable prices.

When property markets are busier, he suggested that price rises would usually set in before investors could snap-up a bargain.

However, landlords and letting agents could boost their long-term capital revenue prospects by adding property to their portfolios in the current climate.

Mr Clifton commented: "From my perspective, I'm hoping the market stays down for two or three years; purely from a buying point of view."

It comes after the latest Rightmove house price index reported that the average asking price for a UK property was £222,979 in November, some 7.1 per cent down on the value recorded in the same month last year.

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