So many mistakes were made through naivety during the buy to let boom. Many of the people attracted into the market by the huge house price rises were inexperienced and bound to make rookie’s errors.
Unfortunately for those who arrived into the game quite late any mistakes they made were soon magnified by the recession crashing in.
New build apartments in the city centre were very popular during the heady days of the boom, last year. The Telegraph reported that some of these were now going for half their original selling price. Quite a blow if you were an inexperienced landlord getting into the market to make a quick buck.
Things are a little better for those who decided on getting into the buy to let market via houses but in most cases landlords are still finding it tough even in this area. It is a simple matter of oversupply.
There is some good news on the horizon with the 1.2 percent rise in supply of properties in the last month being the slowest rise since September last year, however, many experts warn that while this may indicate that we are close to the bottom, the climb back is likely to be very slow.
