Sunday, July 26, 2009
Savvy investors benefiting from end of house price crash, apparently
Two years after â€œcredit crunchâ€ virtually felled the housing market, a group of definite â€œwinnersâ€ has emerged from the rubble. A fortunate few have managed to make the most of the downturn thanks to clever dealing, far-sightedness, serendipity. Lower asking prices, low interest rates and higher rents were tempting prospects for investors looking to increase their portfolio or acquire their first buy-to-let. The desire not to miss low-price opportunities has grown â€” So much so that some parents are using their children as a vehicle to plough money into property. IT consultant Richard invested in two city centre properties in February this year. "I reckon I must have bought on the day the market hit the bottom" he says.