Landlords 'looking to purchase homes in 2009' - buy to let mortgages

31 March 2009

Higher numbers of those with buy to let mortgages are considering purchasing property over the coming 12 months, a new report has suggested.

The Young Index for the first quarter of 2009 has found that investors in the sector are becoming "increasingly positive" and feel that prices will stabilise this year.

It showed that 40 per cent of those questioned are thinking of buying homes in London, while 24 per cent are looking to invest in areas outside the capital.

And 49 per cent of the participants in the survey - which is published by the Young Group - predict that prices in London will be the same or higher in a year's time.

In related news, those in the buy to let market have been advised to remain "calm" and act like "prudent business people" throughout the recession.

David Salusbury, chairman of the National Landlords Association, recommended that investors "review their property portfolios, look at how they find tenants, the facilities they provide and whether they can make their rents more competitive".

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