Residential lettings market 'booming in some areas'

News Category: Marketing

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Some letting agents and landlords could be laughing their way to the bank despite the significant effect of the credit crunch on the UK property market, it has been suggested.

According to the Residential Landlords Association (RLA), some local markets including parts of London are bucking the trend.

Farnborough is one area of the country where the buy-to-let activity is strong and interest rate cuts are benefitting landlords, the body noted, referring to figures reported by Hampshire Property News.

"The rental market appears to be decidedly healthier in some municipalities than in others," the RLA said.

Recent research by the Money Centre, also cited by the association, has also found that about 75 per cent of landlords with buy-to-let loans are making a profit.

Awareness of rental activity in local markets where demand is strong is needed for letting agents and landlords make profits in the current climate, an expert said earlier this month.

RLA director Chris Town said such knowledge can help lettings businesses make the most out of opportunities in the private rented sector.

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