Insurance News Archive
Buy-to-let insurance holders 'see property prices rise in 2009'
Posted by Dan Winters
Buy-to-let insurance holders have seen values in the property market improve in 2010, rather than fall, beating many experts' predictions.
Lucian Cook, director of residential research at Savills estate agency, told the Times that generally people expected prices to drop by 11 per cent and figures are now showing that they rose by four per cent.
Liam Bailey, head of research at Knight Frank estate agency, said that low interest rates helped to boost the market, as people could access cheap finance.
Recent figures from Halifax, Nationwide and Rightmove.co.uk show that London was the first area to start recovering, followed by the home counties, with the north and midlands following shortly after.
However, the future for buy-to-let insurance holders is not certain and Richard Donnell, director of research at the market analysis firm Hometrack, told the newspaper that housing scarcity is not going to go away, but "the big question is, can the people who have been sustaining the market keep on doing so?".
Naomi Heaton, chief executive at London Central Portfolio, recently predicted that buy-to-let insurance holders in central London could have a good 2010, saying that prices will reach pre-credit crunch levels.
29 Dec 2009
