The UK housing market is faring well in spite of the credit crunch.
Nonetheless, there are concerns about the buy to let sector, so says a member of the Bank of England's interest rate-establishing monetary policy committee (MPC).
The buy to let market is at risk due to higher interest rates as well as lower house price rises.
A source of the property market 's weakness is possibly the buy to let market, due to higher interest rates, not much change in rents as well as reduced expectations of price increases.
Reduced demand, should existing buy to let owners not sell, could somewhat dampen the market.
The greatest risk in relation to the credit crunch on the economy would be if it affected the property market.
The impact on the housing market is uncertain.
A considerable property slowdown is not expected as there is not likely to be a great increase in unemployment and consumer confidence is stable.
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Buy to Let Concerns
Thu, 25 Oct 2007
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