Landlords benefit as people stay out of the property sales market

  

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According to the Hometrack report, sellers and buyers are staying away from the uncertain property market.

The report recorded that the number of new buyers has fallen 10.5% in the last month, after a 6.3% fall in December and a 2.2% drop in November.
This month, there was also a 14.3% fall in sales agreed, following falls of 0.9% in December and 4.6% in November.

There was not a single region in January where the number of sales agreed did not fall. Sales in East Anglia held up best, with a drop of 6.3%, but fell hardest in the North-East (down 23.1%) and the South-West (down 19.2%).

With the uncertain state of the sales market the outlook and demand on the rental market looks positive. Many sellers are now taking their first steps into property investment and choosing to rent out the home they have been attempting to sell. These people in the past have been called "accidental landlords" as it was thought that their financial situation pushed them in to renting their property out.

Now more and more are making this choice because they see and understand the opportunities that running a residential property business will bring.

Many of these new Landlords are choosing to learn their trade through other peoples experience and initially employ letting agents. This increases the prospect of them becoming successful and profitable business people. This is not a new scenario at Martin & Co we saw this happen in the last property recession 1989 to 1993 and even when we had a slight slowdown of the property market in 2004. Many of these "accidental landlords" expanded their property portfolios and became residential property magnates.

If you'd like to know more about running your own profitable residential property business benefit from our experience and ask for our advice. We have High St branches across the UK, to find out which office is closest to you click here.

It's a buyers’ market

A survey has been conducted by Rightmove and shows that 60% of home movers believe it is a buyers’ market. Only in London does the percentage of people who believe it is a buyers’ market slip below 50% (to 47.1%).

We know as Landlords it's time to buy - but where?

The most obvious way to find out is to talk a local letting agent, they should know, what, where and why. We believe we do at Martin & Co! Put us to the test and ask us for our advice, if we impress let us find your tenants and even better manage your property. We'd like to work with you to make both our businesses profitable.