Owners finally benefiting from housing slump

The housing correction has until now been seen as a disaster for all concerned but, with banks refusing to ease up their lending criteria owners are now finding ways to earn from the lack of buyers.

The housing correction has until now been seen as a disaster for all concerned but, with banks refusing to ease up their lending criteria owners are now finding ways to earn from the lack of buyers.

With more sellers deciding to let rather than sell, owners are now finding ways to benefit from the housing slump, which could eventually lead to higher house prices and a more confident lending industry.

James Scott-Lee, a spokesman for the Royal Institution for Chartered Surveyors, explained to the Times: "Established investors have been reaping the benefits of the housing downturn for some time."

"They will continue to do so in the short term. However, ever-increasing supply could have an impact on rental growth as tenant options increase."

Such remarks highlight the number of ways the housing market is now beginning to be viewed positively.

Currently, the owner desperate to sell is suffering a headache in the market, as well as buyers not trusted by the banks, but with rental properties increasing and properties for sale therefore diminishing, prices may soon start to rise.

Such price rises would instil much-needed confidence in the market, and as such could signal the beginning of the end of the slump.