17-09-2007
Market sees increase in buy-to-let investors
The UK's housing market is witnessing a return of the buy-to-let property investor, it has been claimed.
According to data released by the Royal Institution of Chartered Surveyors (Rics), compared with the previous quarter, of those chartered surveyors polled, 29 per cent more confirmed an increase in lettings by tenants.
Moreover, during the second quarter of 2007 the number of new landlord instructions is also reported to have improved.
"Current economic uncertainty has created an ideal platform for buy-to-let investors to cash in on rising rental levels," said Jeremy Leaf, a representative for Rics. "Many would-be buyers have decided to wait and see how the interest rate cycle will affect the market," he added.
During the previous quarter, Rics found that 15 per cent of chartered surveyors reported an increase in lettings by tenants. The history of Rics goes back to 1868.
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