Barratts the well known house builder is going to hedge it’s bets and become a rental arm. They built 11000 homes last year – and maybe the downturn in the mortgage market means they can’t sell them, and would rather rent than keep trying to sell them.
What this means for home buyers? They’re expecting a drop in prices yet further and for the mortgage market to be difficult.
It will be interesting to see how they get on as landlords though.
Sources include assetz