Buy-to-let hotspots revealed
Published: 26-Oct-2007
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A study has revealed that Newcastle, Birmingham and Glasgow were buy-to-let 'hotspots' in the second quarter of 2007.
The study, carried out by the Mortgage Works, showed that these three cities, and two areas within London saw the greatest buy-to-let lending during the period.
In contrast, rural areas like Outer Hebrides, Kirkwall, Llandrindod Wells, Dumfries, and Galashiels experienced the lowest levels of landlord interest.
"The results show that buy-to-let business for brokers in the Newcastle area has been going well," commented Andy McQueen, managing director of the Mortgage Works.
"This, in turn, has helped to make Newcastle the country's hotspot for buy to let investment. Clearly this has been helped by a number of factors including the ongoing regeneration programme for the city and the influx of students to Newcastle University.
"Stepping asidefrom geographical breakdowns and analysing the figures further, the data displayed shows that brokers across the country were writing good amounts of buy-to-let business during the first half of the year."
Recently, Hamptons International reported that a lack of supply meant that demand for student rental properties had remained very high.
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