Insurance News Archive

Cash-rich private landlords 'cherry-picking deals'

Written by Jonathan Walker

Cash-rich private landlords are taking advantage of the current property market slump to "cherry-pick" the very best deals, according to an expert.

Richard Bowser, editor of Property Investor News, says that those with ready finances are able to negotiate "hard-balled discounts" to secure profitable investments.

"They are selectively buying stock for the medium to long-term," he explains, adding that lack of mortgage availability is holding back some investors.

Nevertheless, there has been some anecdotal evidence over the last two months suggesting green shoots of recovery in confidence in the buy-to-let market, Mr Bowser adds.

This is compared to the first part of the year, between January and March, when the sector was "in a state of flux", according to the expert.

The Young Group reported that the number of buy-to-let investors looking to purchase properties outside of London rose by 30 per cent in the second quarter of the year, compared to 24 per cent in the first three months of 2009.

26 Jun 2009