Property bargains 'available in the south' - buy to let mortgages

16 January 2009

Holders of buy to let mortgages may be interested to learn that there may be property bargains in the south of England due to continuing price falls.

According to Mark Milner, chief executive at Primelocation.com, the south of England and the Home Counties have experienced the most "significant" price reductions in recent months.

"This provides good news to potential buyers in a good financial position who can make the most of the current bargain opportunities," he said.

Overall, property across the country is becoming more affordable, Mr Milner stated.

Those looking for a prime property and are in a strong financial position should start searching in areas that they may have once thought were too expensive, he suggested.

Figures from Knight Frank released this month have revealed that prime property dropped in value by 16 per cent last year.

Cottages dropped by 17.9 per cent to an average of £460,000, it found.