Landlords 'not selling up'
(04 February 2008)

Most buy-to-let landlords will hold on to their investment despite the slowdown in the property market, according to an expert.

Lots of landlords see their property as a long-term investment and can make money even in a stagnant market, said Property Hawk.

Chris Horne, editor of Property Hawk, said: "A lot of landlords buy buy-to-let properties for their pensions, so it's a much more long-term investment."

He went on to say that due to the costs involved in buying and selling, including stamp duty, fees and furnishing the property, landlords can expect to pay up to ten per cent of the cost of the house again.

This means that even if prices are dipping landlords are likely to hold on and "take a long-term view" about their investment.

Mr Horne said: "Property is one of those things where there are always opportunities. The standard adage is that landlords make their profits when they buy and not when they sell."

A recent survey by the Association of Residential Letting Agents found that ninety per cent of landlords will not be selling their buy-to-let houses in 2008 and four in ten landlords plan on buying more property.