Buy-to-let investors are likely to wait for the economy to hit its lowest level before they start buying high-end property again, one sector commentator has speculated.
In news that may be of interest to those seeking a new mortgage, Philip Selway, managing partner for The Buying Solution, said there was a group known as "bottom-feeders" who would wait until they judged the market to be at its worst before getting into buying.
"The luxury market seems to suggest brand spanking new, all singing, all dancing gold town affairs - it's more than that," he explained.
Mr Selway added that this part of the sector was defined by country estates with 100 acres of land.
However, he noted that the areas where high-end property was most in demand included Hampshire, Berkshire, Gloucestershire, Oxfordshire, Dorset and West Sussex.
In related news that may interest those on the hunt for a new mortgage, 94 per cent of buyers in the first half of 2008 were UK nationals.
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