People 'will want to move' in 2009 ? buy to let mortgages

02 January 2009

In news that could be relevant to those with buy to let mortgages, it has been said that the New Year will change people's perceptions of where they want to live.

Luke Bennett, the founder and managing director of Wimbledon-based estate agency SW19, has claimed that property market will undergo changes in 2009.

Referring to the current economic slowdown, he noted that the country is in a trough at the moment, but added: "Every market has peaks and troughs ... it is going to plateau at the beginning of the year."

He went on to say that people will be looking to move house this year as they will want to try something new.

"The market spurs on again, the same way as it always does everywhere when we hit spring," Mr Bennett concluded.

House prices have fallen by 13.9 per cent over the last 12 months, according to Nationwide.