Wednesday, November 1, 2006
Category:
Property
The UK's buy to let market is looking forward to a promising year, if a new survey is to be believed.
The Mortgage Trust published its research on March 13th 2006 which revealed that the majority of intermediaries are confident that the market will continue to grow over the course of 2006 and many believe that the next three months will provided evidence of a further upturn in the market.
According to the data, 70 per cent of buy to let intermediaries are of the opinion that house prices will rise in the coming quarter, between April 2006 and July 2006, while 58 per cent also expect to see rental yields increase.
And buy to let investors that already have property are expected to make up a substantial proportion of the new business over the next three months.
Intermediaries polled by the Mortgage Trust stated that remortgages are expected to account for 45 per cent of intermediaries' workload, compared to 37.5 per cent a year ago, as landlords look to add to their portfolios.
Nicola Severn, marketing manager at the Mortgage Trust, commented that the research highlighted the fact that there had been "a definite upswing for the buy to let sector" in recent months.
