Buy-to-let set to boom
Over fifty per cent of buy-to-let investors have predicted a growth in demand for rental accommodation this year, as the crisis in the housing market deepens.
Research from the buy-to-let specialist Paragon mortgages revealed that 54 per cent of landlords believed that rental demand would increase over the next year, compared with just five per cent who believed that it would decrease.
The Trends Report, which tracks confidence amongst 200 landlords over rental demands, also revealed that rising demand has led to a fall in the average amount of time a buy-to-let property is empty for between tenants - with average void periods falling to just 2.7 weeks a year.
John Heron, managing director of Paragon Mortgages, explained that the buy-to-let market has always had strong counter-cyclical qualities.
He said: "Potential home buyers are postponing purchasing decisions because they either feel uneasy about the current market or they simply can't get a mortgage, so they are renting."
Recent research from the Estate Agent Your Move also revealed that rental demand in May increased by 14 per cent on April - a year-on-year rise of 41 per cent.
Published 30th June, 2008
© 2008 Estates IT Limited
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Over fifty per cent of buy-to-let investors have predicted a growth in demand for rental accommodation this year, as the crisis in the housing market deepens.