Property crash looming? No say mortgage lenders...

Posted: 13/7/2017

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An economist and ex-government housing advisor has claimed that house prices are set to crash again, due to the stagnation of wages. Professor Paul Cheshire is citing his prediction on the fact that the London property bubble has deflated and that price falls usually start in the city. The Council of Mortgage Lenders said the housing market has only stalled; but most house price measures, including the latest from Nationwide, show residential property prices going up, bolstered by shortage of stock. Of course the professor is one of a band of people who rarely look beyond the south east of England, so his predictions could well be limited to there. In Northern Ireland we have seen slow but steady appreciation in house prices over the last few years, and a particularly high demand for rentals. Who knows who is right, but if you are thinking of investing in a buy-to-let, our advice has always been the same: the property must provide a profitable return regardless of any appreciation. We offer free advice on buy-to-let so feel free to contact us via our website contact page.

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