20-07-2007
Buy-to-let market flourishing in Blackpool
Blackpool's market for buy-to-let investment is improving, it has been claimed.
According to Mark Fletcher of McDonald & Company estate agents, although the popularity of Blackpool as a holiday hotspot has entered a period of decline, it is a popular location for buy-to-let investment and pre-marital parties.
The town is host to a number of well known attractions, including its famous tower and the Central Pier.
"There were some rental surveys recently and the amount of buy-to-let borrowing going on between 2001 and 2007 is amazing," said Mr Fletcher.
"I haven't seen anybody lose yet - when we've sold and resold it's always been at a profit," he added.
Indeed, according to data released by the Land Registry of England and Wales for last month, the average price of a property in Blackpool is now £111,038.