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Best advice to anybody thinking of entering the
currently volatile buy-to-let arena is hold fire!
Ten years ago the only way was up, but now it
could be quite the opposite direction while the
nation's private finances find an equilibrium.
Not many Bucks estate agents are getting further
involved in this hitherto lucrative market, yet
a decade ago it was "one for me and one for
my customer" and so on. In fact, it is all
in reverse. Now there is a pronounced move by
those who accrued quite sizeable property portfolios
to off-load them for fear of being left holding
a bricks and mortar baby with nowhere to go.
So anyone contemplating becoming a buy-to-let
entrepreneur would be well advised to take stock
of what might happen.
The mortgage and property development organisation,
the Transparent Group, says rising interest rates
and house prices means that in many areas the
figures just don't add up any more. But if you
are determined to go ahead, you need to be extra
diligent with your research into an appropriate
market for your investment.
In fact it's probably true to say that the UK
is reaching buy-to-let saturation point and would-be
investors in this field might do far better to
look to the Continent for property letting opportunities.
Even so, make sure you get the right advice or
you might end up a tenant rather than a landlord!
Andrew Leech, Cross Reference Tel: 01753 884216
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