The past year has witnessed much speculation over the world economic downturn and the resulting greater consideration placed upon financial expenditure in every economic market.
In order to focus or shed a spotlight on the effects of the credit crunch on the real estate market, it would be best to being with what a credit crunch actually is. While we are slowly working out of the current credit crunch as banks easy restrictions, the effects or the credit crunch can still be felt. The real estate market is thought to have touched bottom and has been seen rebounding of late.
For Buy to Let market, the last few months have been difficult for the landlords with the credit crunch came increase on arrears, lack of buy to let mortgages and tougher lender’s criteria. But it is not all bad news, the houses are cheaper to buy, the rents still increasing and rental demand at all time high.
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