December 17, 2008
Cheap Homes Mean Great Deals
The news that homes, especially new homes, are getting cheaper across the UK is great news for those looking to invest in property in 2009.
According to smartnewhomes.com, the average price of a new home fell for a sixth consecutive month in November, taking new home prices to £226,517 – down 2.5% since October.
In November, the rate of annual house price growth in the new homes market showed the sharpest decline of 2008, dropping from 9% in October to just 11.8%.
This means, if you can get finance, there are fantastic bargains to be had all over the UK. The property website says apartments have seen the biggest discounts, but all types of property have dropped in value since 2007.
Of course, the price isn’t the most aspect of the investment – it is the affordability of the property. If you can handle the mortgage and make the property work, then it’s a good investment.
But to make sure of that, you need advice – a financial adviser will help you source the best buy to let mortgage, will help you plan your finances and help you find cover for your new investment.
To keep up with the latest News and comment on the UK buy to let market visit the Buy to Let Mortgage Blog
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