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'Silver lining' for property buyers
2008-11-18
The latest housing market figures could offer a silver lining for landlords considering buy to let mortgages, it has been suggested.
Chris Brown, president of the National Association of Estate Agents, said that property buyers are gaining a clearer picture of the housing market as many homeowners are facing up to economic realities and selling-up.
A number of homeowners, who have either refrained from selling or failed to sell their properties amid falling house prices this year, are now adjusting their asking prices, he suggested.
On the significance for homebuyers, Mr Brown said: "They will spend less time looking around houses with last year’s price tags attached and can have more confidence in the market."
"Consumer confidence is the key to market recovery," he added.
The Rightmove house price index, published yesterday, recorded a 2.9 per cent month-on-month decline and a 7.1 per cent annual fall in the average seller's asking price.
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