Press Release Summary: Twins Matthew and Peter Jones look upon the slowing down of the property market as an opportunity to earn more in the buy-to-let market. And they should know what they\'re talking about - their portfolio of 25 homes is worth a staggering £10 million.
Press Release Body: Twins Matthew and Peter Jones look upon the slowing down of the property market as an opportunity to earn more in the buy-to-let market. And they should know what they\'re talking about - their portfolio of 25 homes is worth a staggering £10 million.
Speaking to the Times, the 35-year-olds were quick to identify 2008 as a year of \"good buying opportunity\". As seasoned investors, their first buy-to-let property investment cost £82,000 in 1997 - it is now worth £295,000.
The optimistic pair told the paper that they \"hope to have added at least £2 million\" to their portfolio by the end of next year.
And the bright picture doesn\'t end with the Jones\' story.
Figures released last week by the Association of Rental Letting Agents (Arla) indicated that rental accommodation prices are on the increase, as the need for rented accommodation soars, with an increase in demand apparently being driven in part by an influx of immigrants.
With the credit crunch pushing house prices up, the buy-to-let market can only benefit, according to Arla head of operations Ian Potter.
He said: \"Whenever property prices soften or fall, rental demand, rents and yields all increase. As we begin a year of uncertainty in the sales market, it is inevitable that our member letting agents should report that they have more tenants than properties available for them.\"
And it is this surplus of tenants that is driving investors like the Jones\' to extend their portfolios.
Statistics released by the Council of Mortgage Lenders (CML) last month showed confirmation that landlords are confident an investment in buy-to-let will bring them dividends.
The figures showed that the number of loans to buy-to-let landlords grew substantially between 2006 and 2007, up to £24.1 billion in the second half of 2007 from £20.8 billion in the second half of 2006.
Richard Donnell, director of research at Hometrack, the property data company, said that the ideal areas to invest are places such as Harlow in Essex, where young people have been priced out of the buying market, but there is currently a low availability of rented housing, reported the Times.
It appears that investors were confident of a healthy return of their investment in 2007. With house prices remaining high and a Budget that theAssociation of Mortgage Intermediaries said is unlikely to benefit first-time buyers, 2008 is likely to continue to be a good year for the buy-to-let market.
As Peter Jones told the paper: \"This year looks like it will be a time to snap up a good deal.\"
In today\'s world Property investment is an excellent investment option especially investment in UK
2022
