Insurance News Archive

Housing market gloom could provide boost for property owners

In what could be good news for property owners and landlords, Selwyn Lim, director of Mouseprice, has suggested that the slowdown in the housing market could continue for a while yet.

The precarious state of the UK housing market has ensured that renting out property has been one of the few boom industries which can boast strong results. This is something that Mr Lim has suggested will continue.

He cited the example of the last recession in the late 1980s and suggested a trying factor of this period was the length of time it took property prices to recover.

Mr Lim said: "I am not as optimistic as some. It may be better, but it may well be worse. People shouldn't get carried away with thinking that 2012 is going to be a better year for the property market because that may turn out not to be the case."

Recently, the National Association of Estate Agents (NAEA) predicted that 2012 will see a 'gradual' recovery for the UK property market.

Posted by Michael Brown

20 Dec 2011