St Albans could hold potential for landlords
News Category: Industry News
Published: 04-Jan-2008
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As one of the least affordable parts of the country, St Albans has seen house price inflation take property out of the reach of many first-time buyers (FTBs), although the news is slightly better for landlords.
The Labour Party parliamentary prospective candidate for the city, Roma Mills, told the St Albans Observer that a new report from Halifax indicated the difficulties faced by FTBs.
It showed that prices rose by 16 per cent to an average of £359,596 last year.
"This new report emphasises just how hard it has become to get on the property ladder in St Albans and surrounding villages," she said.
However, this could be better news for landlords with buy-to-let mortgages, because they may be able to profit from providing accommodation to key workers in the city.
A separate study by HBOS found that the housing market will remain flat in 2008, except in areas withgood transport links to major cities.
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