Now is a good time to 'expand property portfolios'
News Category: Industry News
Published: 12-Jun-2008
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The current market is providing plenty of opportunities for any landlord to expand their portfolios, according to the National Landlords Association (NLA).
According to figures from the NLA, rental yields on residential lettings have increased by an average of 13.8 per cent in the 12 months up to April 2008.
A spokesperson told firstrung.co.uk: "For first-time buyers who are still struggling to make it onto the property ladder, their only choice is renting.
"With the increased demand comes an increase in rent and, for the professional landlord, the current market is providing opportunities to expand portfolios."
Furthermore, experts have suggested that the limited access of first-time buyers to the housing market could be limited over the medium term.
According to Darren Cook, spokesperson for Moneyfacts.co.uk, the market is "nowhere near to heading back to the days of cheap credit".
He added that uncertainty has caused many lenders to hedge themselves, which is likely to be good news for residential lettings for the foreseeable future.
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