Landlords 'waiting to buy high-end property'

Posted: 15 Sep 2008 10:50:59 GMT

            Property News - Landlords 'waiting to buy high-end property'

Buy-to-let investors will most likely wait until prices in the housing market reach their absolute lowest before snapping up any high-end property.

That is according to Philip Selway, managing partner at The Buying Solution - a high-end property consultancy associated with Knight Frank - who suggested that the luxury market includes new property and country estates.

He went on to suggest that areas providing easy access to London such as Hampshire, Berkshire and Oxfordshire were proving to be particularly popular among high-end landlords and their tenants.

"They [landlords] will wait until they judge the market is at the bottom before getting into it buying," Mr Selway said.

Recently, research from Savills suggested that property values are falling most quickly in the prime London market. It forecast that they will finish the year down 15 per cent and 2009 down 25 per cent from their 2007 values.

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