Buy to let property investors unaffected by economic woes

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photo credit: florian_aut

It seems property investors are a resilient bunch. While some homeowners panic about the credit crunch/recession the media have decided we’re having, property tycoons big and small have scoffed at the idea and are holding on to their investments.

The Association of Residential Letting Agents (ARLA) has published its quarterly review of landlords and buy to let investors have bitten back at the financial doom and gloom which has settled on the county over the last few months.

Out of the respondents, a barely there minority of 1.3 per cent expect to sell because of current market conditions and 7.3 per cent are undecided, saying they might alter their portfolios. However, four out of ten are planning to tell the economy to shove it and expect to increase them during the coming twelve months.

Twenty-year portfolios

These latest figures also show an increase in the length of time investment landlords expect to hold their properties, which is the best part of two decades. In this report ARLA also points out that it is only the individual buy to let landlords who are investing in residential housing at the moment.

June’s house price figures have also been released, with a decrease for the ninth month in a row and houses now costing 3.2 per cent less than this time last year. Despite the fall in prices UK mortgage approvals are also down, forcing people to continue to rent rather than buy.

Surviving the apocalypse

So after the economic apocalypse everyone seems to be predicting, looks like buy to let investors will be last ones standing along with Wetherspoons and Neil Diamond. We’ll still be alright for a bottle of wine and a live gig then.

[tags]real estate,real estate investing,property,property investment,buy-to-let,neil diamond[/tags]