Landlords have a spring in their step
- 24th March 2010
- Landlord Property News
As spring begins to bloom so too does landlords confidence in the rental market.
61% of buy-to-let investors believe the sector is moving in the right direction, as apposed to 57% this time last month.
This comes as figures published by ludlowthompson recently show property viewing requests by tenants to have risen by 137% in February 2010 compared with February 2009. With rental demand increasing by 14% in the same period.
The rise in confidence has been particularly apparent these last 4 months with reports from Nationwide stating a 24% increase in tenant demand in the last 18 months. ludlowthompson have seen an acute rise in rental interest with a 3/1 ratio of prospective tenants to available property.
This trend is believed to be occurring due to a change in public sentiment towards the continental lifestyle of long-term renting. Homeownership figures are falling as many turn to renting as a feasible alternative.
For landlords concern is still directed towards the amount of governmental red tape surrounding the buy-to-let market. Many see the plans to increase regulation on buy-to-let mortgages as a backwards step and even harmful to the market's recovery.
Landlords adding to their buy-to-let property portfolio in the next few months will find the market is very much in their favour. There is a generous supply of tenants, so demand is high and pushing up rental prices. The number of buy-to-let mortgages has increased in the last few months. The new ARLA buy-to-let mortgage website showcases 116 buy-to-let mortgages.
61% of buy-to-let investors believe the sector is moving in the right direction.
FREE & INSTANT PROPERTY VALUATION
IN JUST 60 SECONDS