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House prices and Rentals?

Does the price of rental come down in line with current economic affairs. I am looking to rent a luxury apartment, and I don’t whether to go for the property now, or later in the year. If this credit crunch continues, will rent come down or stay the same?
Thanks in Advance!

To some degree there is correlation but you will find that with an economic downturn coupled with a never ending supply of empty properties rental values will drop. It doesn’t follow that a poor economy equals lower rents but it does follow that 1 million empty properties in the UK equals desperate people looking for a yield for their investment and rents have to fall. Luxury apartments are slightly different as they typically appeal to someone with spare liquid cash who aren’t really affected in any event so its possible you wont suffer the same impact.

Peter McGahan

http://www.wwfp.net/mortgage/mortgage-broker.html

Disclaimer:
The answers above are for guidance only and should not be acted upon without you receiving professional mortgage advice relevant to your circumstances. To find an independent mortgage adviser please go to http://www.impartial.co.uk.

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