Current market suits professionals

Posted: 08 Oct 2008 14:26:26 GMT

Professional landlords are thriving in the current housing market, it has been claimed.

According to the BuyAssociation, market conditions are grim for most, but landlords who make a living from buying property and housing tenants are seeing some excellent opportunities.

Paul Collins, property editor for the real estate website, explained that private investors are being presented with distressed transactions and developers who need to sell below-market value in order to recoup their losses.

"Professional investors will thrive in this kind of market because they will see the opportunities," he said. "There are huge opportunities there for them."

While cash-rich landlords with assets behind them are able to take advantage of these chances, first-time buyers have been warned that they must make drastic sacrifices in order to climb onto the property ladder.

FindaProperty urged those with serious aspirations of home ownership to reign in spending, warning them that they will need a minimum deposit of £17,000 based on current list prices if they are to secure mortgage financing.

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