Landlords 'may wait' to buy luxury property - buy to let mortgages

15 September 2008

Those with buy to let mortgages may wait until prices have dropped to invest in high-end property, according to an analyst.

Philip Selway, a managing partner for consultancy the Buying Solution, claimed that landlords could bide their time before buying luxury housing due to the current economic situation.

However, he said that some areas are still in high demand, including the "usual suspects" of Hampshire, Oxfordshire, Berkshire, Dorset, Gloucestershire and West Sussex.

These areas would remain popular due to their proximity to London, he asserted.

Meanwhile, new figures from Halifax have shown that housing in rural areas tends to be more expensive.

The report found that the average house price for rural areas was £235,324 - this is 15 per cent higher than the average urban house price of £204,290.

It added that eight out of the ten most expensive regions are in the south-east and the most costly was Chiltern in Buckinghamshire.