UK buy-to-let 'still strong'

News Category: Industry News

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The UK's buy-to-let market remains a strong investment option, according to a panel of property experts.

Debating the causes and consequences of the current downturn in the country's buy-to-let market at the Homebuyer and Property Investor Show, several industry insiders agreed the market still has something to offer.

"There are definitely pessimistic signs," conceded John Wirglesworth, managing director of property public relations firm the Wriglesworth Consultancy. "But the fundamentals of the market are the same as when the market is buoyant."

David Austin, managing director of independent property consultancy Property For Life, agreed, saying that the current slowdown comes down to confidence.

"It's just a confidence thing, once all the bad news about the credit crunch has gone it will return to normal," he said.

Property portal Property Secrets' founder and chief executive concurred that the slowdown is the result of sentiment, but added that investors should not ignore such negative feeling as it "is now having a very real economic impact".

Recent data from the Association of Retail Letting Agents found that in the three months to March, rents rose by four per cent for houses and two per cent for flats.

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