7
Jan
Buy to let landlords staying optimistic
Confidence remains high among buy to let landlords despite gloomy
predictions for the UK housing market, it has been revealed.
A new poll conducted by the Association of Residential Letting
Agents (Arla) found that nine out of ten had no intention of
selling their properties over the next twenty years.
In fact, 40 per cent said they were intending to make further
purchases to increase the size of their property portfolios this
year.
Ian Potter, head of operations at Arla, said the survey's findings
provided a welcome balm for buy to let sector.
He commented: "This is good news for the whole of the private
rented sector and for the housing market, particularly as it comes
from surveys carried out well after the credit crunch had begun to
bite.
"The rental sector is the lynchpin for all our housing requirements
and needs continual investment from private individuals as it still
suffers from a lack of investment from the institutions."
The results of the study come after research from Moneyfacts found
that buy to let mortgage providers had responded to fears over the
viability of the products by cutting the number of products they
offered from over 2,200 in July to 1,724 as of last month.
