Property investors 'spotting bargains'

Date:Tuesday 3rd February 2009
Author: Max Freedman

Residential property investors are looking to maximise the current economic climate by expanding their portfolios, according to new research from Paragon Mortgages.

The group's Private Sector Trends report predicted that 2009 would follow the trend of increased tenant demand observed in the fourth quarter of 2008.

Figures from the report indicated that in the third quarter of 2008, the average number of properties in a portfolio was 12.1. By the fourth quarter, this number increased to 13.2, which indicates that some investors may be viewing the downturn as an opportunity, according to Paragon Mortgages' managing director John Heron.

He said that many residential property investors may be spotting bargain opportunities in their local markets and making long-term purchases accordingly.

Last week, the Bank of England released its Lending To Individuals report for the month of December. The report indicated that some 31,000 loans were approved for house purchases during the month - up from November's numbers.