NLA insists buy-to-let going strong
The National Landlords Association (NLA) has rejected suggestions that the UK buy-to-let sector is headed for a crisis.
With mortgage approvals reaching their lowest-ever levels and buy-to-let market-leader Bradford & Bingley warning of rising arrears, some analysts had begun speculating about a looming crash.
But NLA chairman David Salusbury dismissed such notions unequivocally, emphasising the uniquely counter-cyclical nature of the market which allows it to benefit from wider turmoil.
Alluding to falling demand among people looking for property for sale in London and elsewhere, Mr Salusbury said: "We believe now is a good time for the professional portfolio landlord, many of whom will be benefiting from increased demand and rising rents."
He concluded: "The NLA does not subscribe to the view that the end is in sight for the buy-to-let market."
Numerous reports have found that would-be first-time buyers are deserting the owner-occupier market in favour of becoming tenants, with fears about negative equity rapidly gathering pace.
Most recently, The Royal Institution of Chartered Surveyors said that home sales have reached their lowest level in 30 years.
Published 11th June, 2008
© 2008 Estates IT Limited
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The National Landlords Association (NLA) has rejected suggestions that the UK buy-to-let sector is headed for a crisis.