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Private Landlords Lose Billions In Property Value

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Private landlords lose billions in property value

Orivate landlords have seen the collective value of their properties fall by £118.4bn between the first three months of 2008 and the same period this year.

According to new research from Sainsbury's Finance, as house prices have fallen, private landlords have witness the collective value of their properties fall by an estimated £324m a day.

The worst affected area is London, where the value of their properties has fallen by an estimated £37.36bn.

Lucy Hunter, landlord insurance manager, at Sainsbury's Finance said: "The environment for landlords has become increasingly difficult.

"In addition to a fall in the value of their property portfolios, rental yields have also come down because the market is now saturated with new rental properties as many homeowners look to rent their properties rather than sell.

"When faced with these kinds of pressures, it can be tempting to look at ways to cut costs. We are urging landlords not to cut back on buildings and contents insurance as doing so could prove false economy. Your property is a huge asset so it's imperative it is properly protected."

According to Sainsbury's Finance, there are some 3.19 million privately rented properties in Britain, and just over 19 per cent of properties in London are privately rented, which is the highest percentage for any part of the country.

But, but, but, property only goes up, its a long term investment, my house is my pension....bricks and mortar...bla bla


Edited by cashinmattress

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"Landlords" The majority are Debt ridden no-bodies, not even got a pot to p!ss in, but they feel good telling people they own property.

Well the TRUTH is, you own nothing until paid for in full. Then 25 years on, if your become the rightful onwer, the Government will wack a great big TAX on any income drawed from it;

However, because the Government/housing associations are purchasing plenty unsold new build properties, your property will not be alot of use to you :rolleyes:

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Who would have thought that leveraging up for capital gains rather than buying for yield could end so badly?

My heart bleeds.

No, really, it does...

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this is the problem with Ponzi schemes, the value disappears as people stop buying in.

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