Recent figures from whitehot property, which sells chain free property, says that 80% of repossessed houses advertised on its site are being bought by investors.
Current market conditions mean that more investors are looking for affordable property in areas where there is increased rental demand. House prices in the north of the UK have decreased. However, it is these northern areas that are seeing both the demand and supply of rental homes increase due to current market conditions, creating an ideal platform for investors.
Mike Pudney, whitehot business development manager, commented: “We are seeing lower property prices in the northern parts of the country, although the rental sector and the yield available in those areas remain robust, making it an ideal investment opportunity. Whilst the prices are lower, properties may need more initial outlay for maintenance, but the rental yield far outweighs the costs.
“Several investors are enjoying above average returns on their rental property, which in this market is no small feat. Based on our evidence, investors are switched on to grabbing the opportunities that this creates.”