Buy-to-let demand 'stays firm' amid housing shortage
Buy-to-let demand remained steady in October, according to the Bank of England's (BoE) latest summary of UK business conditions.
The organisation said desire for properties to add to the rental market was "firm" in the period as general housing demand continued to outpace supply.
It added that house price rises were modest across most of the country, but some parts of south-east England that are close to London did see increases along with a few other wealthy areas elsewhere.
The continuing shortage of housing in the UK may be advantageous for the letting sector, as it could see more people turn towards rental accommodation, as they are unable to find or afford a suitable property to buy.
Indeed, in October, Savills forecast an extra one million homes will join the private rented sector (PRS) by 2018.
However, the organisation also warned more properties are needed within the PRS itself, with the greatest shortage set to be in London.
Find out more about letting agency software25-November-13General Lettings News