NLA: Rental yields holding up property market
Figures showing the continued rise of buy-to-let property are evidence of landlord confidence, according to the National Landlords Association (NLA).
The group claimed that the coming months will place increasing demand on the private-rented sector, but identified landlord confidence in the profitability of rental and good management of portfolios as assets to the property market.
Paragon Mortgages has claimed that rents increased by 19.4 per cent in 2007, and by 8.1 per cent over the year's final quarter, allowing buy-to-let's total 2007 increase to hit 21 per cent, far more than in 2006.
David Salisbury, chairman of the NLA, said: "These figures show that professional landlords remain confident about the market and are firmly committed to providing decent and affordable accommodation to those who choose to rent.
"Healthy rental yields are critical to encourage more and more investment in residential property, none so important as when the market is slightly cooling."
He added that the figures from Paragon were consistent with recent NLA research, which showed that over a quarter of landlords expected to expand their portfolios over the next five years.
Published 7th February, 2008
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Figures showing the continued rise of buy-to-let property are evidence of landlord confidence, according to the National Landlords Association (NLA).