Property still attractive investment option, expert says
News Category: Industry News
Published: 03-Mar-2009
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Despite the doom and gloom associated with the buy-to-let mortgage sector amid the impact of the recession, letting agents might still find plenty of landlords willing to do business, it has been suggested.
Indeed, the economic crisis has led to a fall in the number of buy-to-let mortgage products on the market and data from the Council of Mortgage Lenders showed that 4,000 homes were repossessed in this sector last year.
However, according to landlord advice website Smartlandlord, buy-to-let mortgage borrowers with large portfolios and posting healthy years, while cash-ready buyers are also taking advantage of low house prices.
Student housing was tipped as a profitable area for landlords in 2009, but corporate letting is suffering since the onset of the credit crunch, the firm argued.
Smartlandlord continued: "Student landlords are benefiting from even higher tenant demand - enrolments in higher education have rocketed since the credit crunch."
The comments come after statistics published by letting agent Your Move showed that rental demand in the UK was up 56.4 per cent year-on-year in January.
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