Even though the UK economy has improved since we wrote this article there are still many opportunities to buy BMV and repossessed houses for sale in the UK.
It is, it seems, a very sad fact that the property market continues to flounder and that double dip we heard so much ago when the recession hit us is upon us. Last month, September 2010, UK property prices fell by an average of 3.6%, with year-on-year increases in house values rising by just 2.6%. Even to the non-economics-expert, those figures just don’t compute do they? If your house goes up in value by 2.6% but the price you can sell it at goes down by 3.6%… Enough said. Analysts are saying this is probably the start of a sustained period of declining house prices. Sadly, this probably means that property repossessions will increase. However – and it is difficult to write this without feeling a bit awkward about it – this is not bad news for everybody.
Unlike during previous falling house markets, however, this time round it could prove hard to find repossessions; mortgage buyers have stopped revealing if the properties that they are selling have been repossessed. If you are an investor, we have access to a very exclusive list of below market value properties. This list is updated on a daily basis and includes properties from some of the top estate agents, including: Jones Lang LaSalle, Colliers, Savills, King Sturge and scores of niche agents such as Strettons and Globrix.
The majority of the properties in our property listings will sell for between 15% and 35% lower than RICS valuations.
Whether you are looking for repossessed properties in London or the Isle of Bute, if you want to successfully invest in property, you need to know where to look: we have done most of the searching for you.
Please share your thoughts about buying repossessed houses for sale and below market value (BMV) properties in the UK.