The coming 12 months look set to be a boom time for buy-to-let investors, with many looking to significantly increase their property portfolios.
Research conducted by specialist mortgage provider Paragon found that landlords are practically falling over themselves to invest further funds in bricks and mortar at present despite the traditional market being subdued.
Indeed, more than a fifth of those surveyed said they will be making more property investments in 2012.
While in contrast, less than one in ten landlords claimed that they will be looking to reduce the size of their buy-to-let portfolios in the 12 months.
Thanks in part to a loosening of lending restrictions from banks and building societies, the number of properties owned by rental magnates has risen to an average of 13 this year and will continue to rise further in the next year.
Terraced property remains the most popular choice for landlords with 65 per cent of respondents saying that they owned at least one.
This was followed by flats or apartments, which are owned by 58 per cent. Semi-detached homes made up part of 48 per cent of landlord's existing portfolios while 24 per cent own a House of Multiple Occupancy (HMO).
Of those questioned 77 per cent stated that they were positive about being a landlord, while 57 per cent said prospects for the rental sector in 2012 were either "good" or "very good".
"This is an interesting time for the private rented sector as landlords are experiencing very high levels of tenant demand as other areas of the housing market come under increasing strain," John Heron, Paragon Mortgages managing director, said.
"I am pleased to see that landlords are expecting to add to their portfolios as there is no sign that tenant demand is going to slow in 2012."
Iqbal Hussain, property consultant at Knight Knox International, recently said that now is the best time to buy for anyone wanting to dip their toe into the property rental market.
Property News Magazine
Showing posts with label Landlord and Tenant News. Show all posts
Showing posts with label Landlord and Tenant News. Show all posts
Monday, December 05, 2011
Monday, November 28, 2011
Landlord and Tenant News: Government pours praise on SAFEagent in new housing strategy.
Landlord and Tenant News: Government pours praise on SAFEagent in new housing strategy.
SAFEagent, the scheme launched this year to protect both landlords' and tenants' financial interests, has this week received glowing praise from the government.
In a statement released by Westminster detailing the government's new strategy for housing, SAFEagent, which launched to much acclaim in May, was described as a scheme which is driving up industry standards.
It was also stated that many landlords and tenants often do not realise the benefits of choosing a letting agent that is covered by the client money protection initiative.
“The SAFEagent scheme promotes consumer awareness of the issue and helps them to identify agents with protection, through the SAFEagent badge," the document noted.
“It shows how much can be achieved quickly and cheaply through simple and effective ideas driven by industry not the government.”
Since the scheme came into force, housing minister Grant Shapps has been extremely vocal in praising what SAFEagent is doing and has encouraged more letting and property management companies to sign up.
John Midgley, chair of the SAFEagent Steering Group, said that the governments continued backing was a "fantastic endorsement" of SAFEagent and he thanked Mr Shapps for his support throughout the past few months.
“We’re delighted that the government recognises that the industry can generate and implement proactive, innovative ideas which are in the interest of the consumer rather than relying on imposed regulations which would lead to further red tape and cost," he stated.
“SAFEagent is a simple and sensible approach to raising consumer awareness of Client Money Protection and it’s one that is working."
At present more that 1,600 agents and management firms have joined the scheme but Mr Midgley urged more to make a positive difference to the industry by joining up.
This September Lord Taylor of Holbeach, a Conservative peer and House of Lords whip, said he was "delighted" the government was endorsing SAFE and added that consultation is in place to make such protection initiatives a statutory requirement for all agents.
Landlord and Tenant News
SAFEagent, the scheme launched this year to protect both landlords' and tenants' financial interests, has this week received glowing praise from the government.
In a statement released by Westminster detailing the government's new strategy for housing, SAFEagent, which launched to much acclaim in May, was described as a scheme which is driving up industry standards.
It was also stated that many landlords and tenants often do not realise the benefits of choosing a letting agent that is covered by the client money protection initiative.
“The SAFEagent scheme promotes consumer awareness of the issue and helps them to identify agents with protection, through the SAFEagent badge," the document noted.
“It shows how much can be achieved quickly and cheaply through simple and effective ideas driven by industry not the government.”
Since the scheme came into force, housing minister Grant Shapps has been extremely vocal in praising what SAFEagent is doing and has encouraged more letting and property management companies to sign up.
John Midgley, chair of the SAFEagent Steering Group, said that the governments continued backing was a "fantastic endorsement" of SAFEagent and he thanked Mr Shapps for his support throughout the past few months.
“We’re delighted that the government recognises that the industry can generate and implement proactive, innovative ideas which are in the interest of the consumer rather than relying on imposed regulations which would lead to further red tape and cost," he stated.
“SAFEagent is a simple and sensible approach to raising consumer awareness of Client Money Protection and it’s one that is working."
At present more that 1,600 agents and management firms have joined the scheme but Mr Midgley urged more to make a positive difference to the industry by joining up.
This September Lord Taylor of Holbeach, a Conservative peer and House of Lords whip, said he was "delighted" the government was endorsing SAFE and added that consultation is in place to make such protection initiatives a statutory requirement for all agents.
Landlord and Tenant News
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