Wednesday, 18 May 2011

‘Falling House Prices Equals Big Opportunity’ Says Belvoir Sheffield

‘Falling House Prices Equals Big Opportunity’ Says Belvoir Sheffield

According to the latest Halifax price index, the average cost of a home dropped 1.4 per-cent during April to stand at £160,395, the lowest level since July 2009. This means that for the residential landlord, now is a perfect time to buy.

Rick, from Belvoir Sheffield, who specialise in providing flats to rent in Sheffield, said: “Due to the economic uncertainty surrounding consumers at the present time, there is a reluctance to buy property, thus contributing to the decrease in house prices. ‘This decrease means that for investors who can secure a buy-to-let mortgage or have some spare cash to spend, the market is extremely buoyant.

Critics have warned that if rents continue to rise at their current pace, it would cost an average of £715 a month to rent a home outside London in a year’s time.

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