Spokesman Ray Boulger said: “I would not recommend anyone enter that [buy-to-let] market with a short-term view.”
He added that there was “no point” in those who had invested leaving the market now, but warned that some investors had made the error of assuming that the market would always be growing because it has for the last 12 years.
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“As long as you expect the return to be good over the long-term, then you accept that,” he said, although some smaller landlords had been “sucked in” by this notion and had missed the quick return they had hoped for.
The Association of Residential Letting Agents published research this month which showed that only 2.5 per cent of residential landlords were aiming for a short-term profit.
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