Price "is everything" in current market - buy to let mortgages

10 February 2009

The price of a property must be set at the right level in order for it to sell in the current climate, it has been claimed.

Michael O'Flynn, the content editor of FindaProperty.com, has offered some advice to purchasers and sellers that could be useful for holders of buy to let mortgages.

"Price is everything in the current market," he stated, adding that there are a "lot of potential buyers out there".

He continued: "The feedback we are receiving from agents generally is that competitively priced properties will sell."

Mr O'Flynn went on to say that some agents have reported "multiple" offers on homes that had set a value at an appropriate level for market conditions.

Last month, the Rightmove House Price Index showed that the average asking price for a UK property stood at £213,570.

This represented a fall of 1.9 per cent from December, which suggests buy to let investors may be able to obtain homes at a lower cost.