One in ten landlords 'plan to buy'
In the first quarter of 2010, one in ten landlords are hoping to buy a residential investment property to add to their portfolio, new research has revealed.
According to Paragon, terraced housing is topping the list of preferred property types for landlords, although mortgage availability is still causing problems for some.
Some 65 per cent of landlords surveyed said they planned to look into buying a terraced property, while 25 per cent were on the look at for semi-detached homes and 20 per cent were planning to buy flats.
Meanwhile, ten per cent were keen to add a detached property to their portfolio.
Such news may be welcomed by Britons on the lookout for property to rent in Blackheath or elsewhere in London and keen to have a wide selection to choose from.
Terraced properties were revealed to be the most popular because a wide range of tenants liked them and they were typically well constructed, the research noted.
John Heron, Paragon Mortgages' managing director, said: "It is encouraging that landlords are still active in the market and are looking to expand their portfolios. With tenant demand at such strong levels and soft house prices presenting the opportunity for bargains, it is easy to see why."
A recent study by Halifax revealed between 1991 and 2008, the number of people choosing to rent a home in the UK increased from nine per cent to 14 per cent.
Written by Ben Carter
Published 20th January, 2010
© 2010 Estates IT Limited
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Ten per cent of landlords plan to purchase a new property in the first quarter of this year, which could see Britons having more choice when choosing flats to rent in London.