'Accidental landlords' return to sales market
Wednesday, 12th November 2008

A number of "accidental landlords" which joined the lettings market when their homes failed to sell are now returning to the market, it has been claimed.

Partner for residential sales at Cluttons James Hyman said that a number of these landlords were now accepting that they were much better off selling their houses at current market prices, despite their previous reluctance to recognise their houses were worth less than they believed.

He continued: "This is good news for the sales market, which has been stalled in part by the reluctance of sellers to recognise that their homes are worth considerably less than they were a year ago."

Mr Hyman added that such sellers were provided with a wide array of people wanting to buy property in the UK, so long as prices were reasonable.

The National Landlords Association announced last week that bills were set to soar in the lettings market as winter approached.