Bargain hunters 'will dominate' housing market - buy to let mortgages

19 December 2008

Buyers seeking a bargain will dominate the housing sector in 2009, it has been claimed.

Propertyfinder.com has predicted that holders of buy to let mortgages and first-time buyers will be quick to snap up property in fear of a market rebound.

Furthermore, the website stated that the rental market will continue to see high demand, although this may drop slightly as more first-time buyers search for property to purchase.

Director of propertyfinder.com Nicholas Leeming said that a slow and steady improvement in the housing market will be witnessed in 2010.

"Fiscal measures will boost confidence and help to make mortgage finance accessible again and this will cause transaction numbers to slowly rise," he said.

Mr Leeming warned that the road to recovery "will not be quick".

The rental market was recently described as "very busy" by Paul Sellers, housing policy adviser at the Trades Union Congress.

Mr Sellers said that many tenants had been "pushed" into the private rental sector through a lack of alternative options.