Asking and selling price gap narrows - buy to let mortgages

16 June 2009

The gap between what a property sells for and the original asking price for it has narrowed, new research suggests.

A survey by the Royal Institution of Chartered Surveyors (Rics) found that the majority of its members agree with this trend.

Indeed, some 60 per cent of chartered surveyors reported this pattern in the current market.

Those with buy to let mortgages looking to add to their portfolios should be aware that the study uncovered that - on average - there is an 11 per cent difference between asking and ultimate sale price.

Senior economist at Rics Brigid O'Leary stated: "The improvement in sentiment that has been captured in recent housing market surveys is reflected in a narrowing in the gap between asking and selling prices."

Property hawk website editor Chris Horne recently claimed that interest for buy to let mortgages remains strong.

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