Property market is 'uncertain'

08 March 2010

Written by Steve Olejnik

Buy to let landlords cannot be assured of the state of the housing market because there is so much uncertainty in the industry.

This is the warning of property editor at BuyAssociation.co.uk Paul Collins, who explained that predictions on house prices and other elements are only guesses, given the current climate.

A hung parliament following the general election remains a possibility, which could spell "bad news" for the sector.

Mr Collins predicted that those wanting to purchase property for the first time will probably be forced to wait until the end of 2010, when there is a better idea about mortgage rates.

"People will still need substantial deposits to get on the ladder," he added.

The comments follow the latest Halifax House Price Index, which noted a 1.5 per cent drop in prices in February compared with the previous month.

It was the first time since June 2009 that there had been a decline.

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