Many people with spare cash have chosen to put it into property. It’s been a wise move, and buying-to-rent has been a nice little earner for landlords.

But signs are that over-supply is calming the market. In simple terms, the number of people renting their properties has risen faster than the number of tenants.

Savvy renters are getting a better deal. But buyers looking for new property can take advantage of these market conditions.

Many new developments in places like London are due to be finished this year or the next. The developers want to sell their new units as soon as they can. And news is that they will negotiate.

If you want, and can afford a flat in these times of over supply, the advice is to play a tough game with the builders. For example, some developers will save you estate agent’s fee (typically around 2.5 % of sale price) by agreeing a part or total exchange on your old property.

Developers know that many new customers are looking to rent their property out and some are offering guarantees on rental income for a fixed period. The added advantage of this is that you, the new owner, don’t have to look for an agent or a tenant.

Other deals offer free fixtures and fittings, help with moving, free cars and state-of-the-art washing machines and other white goods, or stainless steel and titanium, if you prefer.

A terrific deal is the one on stamp duty.

Drop The Asking Price?

We can hear your brains working overtime. Why don’t the vendors just drop their asking prices? Stuff the freebies, save me some cash.

They might drop the price if you ask nicely and catch them at the right time. One reason they might not is that if units on a development have already been sold at full price, selling others for less could upset the applecart.

The patient among you could wait until late in the day, when a few remaining units are proving hard to shift. Like a white knight, you step in with an offer. It might sound derisory - it might even stick in your craw and make you blush to say it - but to the developer it might sound better than nothing.

With some luck and some chutzpah, you could just get yourself something of a bargain deal.

Came straight to this page? Visit www.kerching.tv for all the latest news.

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