Property industry insight offered - buy to let mortgages

04 August 2009

Those with buy to let mortgages and other homeowners could see the property market "really start to improve next year".

At least that is the view of Peter O'Donovan, head of mortgages at independent financial adviser firm Bestinvest, who said that recent estimations from property organisations may be slightly wide of the mark.

His comments come after the National Housing Federation (NHF) released research this week which suggested that property prices, on a yearly basis, will increase 1.1 per cent in 2011 after values drop this year and next.

Mr O'Donovan said this outlook was "a bit too long" and the upturn in the market could be sooner.

"The recent increase in purchases that are going through - and the lack of stock - [suggest] that people may come in now and decide that the prices may start increasing," he explained.

The NHF's study said that there will be significant rises in the cost of UK property between 2011 and 2014.

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