Four out of ten investment landlords plan to buy property during the coming year, ignoring falling house prices, research revealed.
More than three-quarters of buy-to-let investors also said they did not intent to sell any of their properties because of the state of the current market.
The Association of Residential Letting Agents review reveals, that they plan to keep their property portfolios for an average of more than 16 years, with a quarter of landlords intent on keeping them for more than 20 years.
Source: Landlords plan to buy property
Inspite of the economic woes, the Times Online argues that if you can find the right deal, there has arguably never been a better time to buy into an affordable housing scheme, as the risk of falling values is partially covered by the Government. Great news if you’ve been renting for a while and keen to have a place of your own.
Source: A guide to affordable housing
Banking shares have fallen following the announcement on Sunday, that Bradford and Bingley is to be nationalised.
Investors have been quick to get rid of their shares, with the government taking control of B&B’s mortgages and loans, while its savings arms is being bought by Abbey.
Shares in HBOS closed 18% while Lloyds TSB fell 13.5X and Royal Bank of Scotland lost 13%.
The losses contributed to the FTSE 100 index’s biggest one-day fall since January - down 5.3% to 4,818 points.
Other banks losing ground included Barclays, down 8.8%.
Source: Bank shares fall after B&B move
According to Rightmove, the property website, the housing market has little chance of recovery until the banking crisis has been successfully resolved. The economic problem is halting new sellers from entering the market. The number of new listings per estate agent is at its lowest September average ever measured by Rightmove. Find out more from Rightmove’s monthly House Price Index.