UK landlords turn positive on future
The UK buy to let market is apparently bottoming out if UK landlords are to believed, with a forecast that portfolios will rise by an average of 0.8% over the next 12 months. This is a significant movement when you bear in mind that property prices have been falling for the last two years and rental income has also been decreasing for the last 12 months or so. So what is happening at the moment?
While there is differing information regarding property values in the UK, with some areas responding better than others, there is no doubt that rental income is starting to level off and may well be over the worst. This comes at a time when many buy to let entrepreneurs have seen their property values collapse and with many borrowing money on earlier property acquisitions, a number of portfolios have fallen like a pack of cards. This is a sector which for many years was very lucrative for a great number of UK business people but has since turned sour and left many bankrupt.
This interpretation of the property market in 2010 is against that of many analysts who believe we could see further falls in the UK property sector over the next 12 months. Time will tell, but differing opinions make markets!
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