UK Money News
2nd April 2008
Property investors not phased by market conditions
Property investors' confidence in the housing market remains strong despite evidence that the market is stagnating.
In a survey conducted by Property for Life 71 per cent of those surveyed said they were planning to add to their portfolio this year.
Towards the end of last year, the figure was some ten per cent lower, suggesting that investors see the prospect of falling prices as an opportunity to pick up property at reduced prices.
Commenting on the figures, David Austin, managing director of the investment specialists, said: "The vast majority of professional investors are looking to expand their property portfolios this year, with confidence remaining high.
"Demand for rental accommodation is still driving the market, pushing rents up and a record 65 per cent of investors say they are no longer feeling the pinch of higher interest rates."
He added: "And as the cuts to the base rate set in fully, with more expected, the desire for buy-to-let property is unlikely to decline."
The survey found that 46 per cent of investors expect property prices to fall further in the short-term.
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