Housebuilders Taylor Wimpey have just announced that they have run out of houses to sell this year. If you want to buy a new home you will have to wait until it is completed next year and pay more because they are putting up their prices. Meanwhile the property website Rightmove says it had its busiest ever month in August. Apparently the normal summer slowdown just did not happen. Mortgage lender Halifax say that prices rose 1.2% in October.
What no one can be sure about is whether this is just a flash in the pan. If it is the beginning of a sustained recovery then many landlords will see the value of their equity increase and lenders prepared to support them as they increase their portfolios. Accidental landlords who were forced to rent out their property because they could not sell it will be in the happy position of owning an asset generating an income as well as going up in value. It all depends on what is around the corner.
Does anyone have any recent experience of buying, selling or renting property? The “experts” cannot agree on what will happen next- what do actual landlords think?
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