Let property set for another good year
During 2009 it seemed that the buy-to-let property market went from strength to strength. A reduction in the number of companies willing to offer buyers a mortgage meant that those looking to get a home of their own were forced to rent until lending restrictions changed. While this had a negative effect on the housing market, landlords found themselves in a position of great potential. In one hand they had housing prices at there lowest in decades and in the other they had an increase in the number of people looking to rent.
This good fortune is set to continue in 2010, while lenders have increased there lending on mortgages they are still few and far between, creating yet more demand in the rental sector. A recent survey conducted by the January Rental Confident Index showed that this year 64% of landlords expect a good year and have high hopes for the rental market. This figure is up 6% on the figure of a similar survey conducted in December last year.
Another area landlords are reaping the benefits from is the increased number of people looking to attend university. The recession has lead to people of all ages looking to further their education during this time of financial chaos, in the hope that a come the end of their course the recession will be over.
James Davis the founder of Upad said: "The results from this survey bode well for the private rental sector, which, I believe, will see real growth during 2010. This is a positive start to the year after what has been a very difficult period."
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January 15th 2010