Fresh information from RICS (The Royal Institute of Chartered Surveyors), has instilled confidence for buyers looking to purchase a house to let. Furthermore, the RICS forecast that this confidence could push up house prices moving into the spring and summer of 2006.
Although mainland Britain has experienced a slow recovery from the sharp interest rate increases of August 2004, it seems that house prices are gradually beginning to rise again. Northern Ireland, by contrast, has experienced a sensational house price upswing, approximately 20%, and this does not look like diminishing.
Experts explained the positive Northern Ireland situation as many investors in residential properties, coupled with an influx of secure first-time buyers in well-salaried jobs.
However, a more modest growth was predicted in the medium-term for Britain as a number of factors slow down rates of growth and affect market confidence. However, for the immediate term, it seems that the property market looks good.
Despite the Sipps u-turn, the buy-to-let sector of the market continued to be healthy. Buyers planning to hold for the long term were perceived as being in an advantageous position. Estate agents and buyers alike appear to be showing renewed confidence in the buy-to-let sector.
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Estate Agent confidence in buy-to-let sector Thu, 22 Dec 2005
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