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Britons misunderstanding buy-to-let
- Published 10/8/2007
- Buying properties to let out
- Unrated
The buy-to-let property market has come in for some criticism of late from those who feel that investors have priced them out of the market, but such criticisms are largely unfounded, according to a propertyfinder.com study.
Together, investors or immigrants were blamed by some 31 per cent of respondents to the website's study as being responsible for higher house prices in the UK, yet just 6.3 per cent pointed the finger at the true culprit – a prolonged period of low inflation and low interest rates.
Similarly, Britons are also somewhat misguided when it comes to the supply of housing, the study suggested, with most blaming the government despite councils being just as much at fault.
"Immigrants and buy to let property investors make high profile scapegoats but are simply too small in number to be responsible," noted propertyfinder.com chief executive Warren Bright.
"We won't see forced sellers so there is no reason to fear a sharp downturn. The housing market is slowing in an orderly fashion and will continue to do so. Higher base rates should now come off the agenda," Mr Bright added.
Further to this, many are now of the opinion that interest rates will fall in November – the first drop for over four years.