Oversupply affects landlords according to National Homebuyers
Buy-to-let property investors may be seeking a fast property sale as oversupply begins to affect the sector negatively.
[UKPRwire, Fri Dec 28 2007] In addition, it looks like property prices are going to fall, particularly inner-city new builds because the demand for these properties is waning.
Landlordzone editor Tom Entwistle said that many landlords will get into trouble in 2008 and this could lead to a surge in fast property sales.
"The main problem areas will be some of the inner-city areas where the new apartments are oversupplied," he commented.
"There are definite spots where that's the case, and rents have come down considerably in those areas as a result.
"It will not be as easy for first-time buyers to buy because of the mortgage situation, and I think that property prices are going to drop considerably. It's going to be a tough couple of years in the property markets," concluded Mr Entwistle.
Fast cash for homes property expert Julian King adds, "Fewer buyers and more properties means property prices will continue to fall.
"Homeowners looking for a quick sale of their home will also be met with an unnatural wait on the market before receiving an offer. We advise those looking to sell property quick to consider options away from the traditional estate agent".
Mr King is a director of National Homebuyers, the UK's leading fast property purchase firm, guaranteeing to make an offer on any property in the UK, regardless of its condition or location for vendors who need a quick sale. The company also offers a Sell and Rent Back mortgage rescue scheme for homeowners who want to release equity in their homes.
As a private commercial buyer, National Homebuyers do not require the vendor to have a Hips pack in place in order to purchase.
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