Myth-busting – Electrical Safety installations Act 202011:19 AM, 3rd August 2020
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The research looks at the buy to let market in detail and reveals the investment hotspot of the UK is the North-East, followed by the Midlands and London.
Falling house prices and easing of mortgage funding as more lenders enter the buy to let market has increased landlord confidence, and as a result -although a third of London landlords are most likely to buy properties to let in the next 12 months- 30% of landlords in the Midlands also said they would be likely to buy in the next year.
The story is different in the South West, where 18% of landlords bought more property in the past 12 months, while 10% sold – the highest number for any region.
Ian Potter, operations manager at ARLA, said: “Traditionally London has led the way with buy-to-let, but we are seeing signs that investors elsewhere in the country believe now is the time to buy – if you can arrange finance, it could be prudent to take advantage of lower property prices.”
The findings also revealed landlords in the North have an average 13 properties, while landlords in Central London and the South East own an average six rental properties each.
“Some towns across the UK are suitable for rental investment as they have a high number of students, while others – such as the recently unveiled local enterprise zones – are areas being targeted for future growth,” said Potter.
“While it is a positive sign that landlords are continuing to buy rental properties, this individual activity needs to be boosted by larger-scale investment. With demand still far outstripping supply, and home ownership out of reach for many, it is critical that more people have access to a home of their choice.”
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