The Times (October 26th 2009) reported figurs from the Royal Institution of Chartered Surveyors showing a revival in buy to let activity for the three months to September 2009.
The RICS survey shows a 2% increase in the number of surveyors seeing an increase in demand for buy to let properties as against those seeing a fall in demand. Flats are unpopular with 15% of surveyors reporting a fall rather than a rise in demand but the picture is very different for houses where demand is rising. The North West is the area where demand from buy to let landlords is rising most strongly and the West Midlands is the area where demand is weakest.
Landlords and potential landlords have been struggling to cope with the shortage of lenders interested in buy to let finance but these figures suggest that the market may be recovering. The auctioneers Allsop say that landlords made up 85% of bidders for property in July. Perhaps people with cash in the bank earning minimal interest prefer the idea of an investment that can produce a rental stream and maybe even some capital appreciation if the market strengthens.
Is the market improving - what do you think? Leave a response and let us know.
If cash rich investors are looking for a better return then they will also need landlord insurance to protect that investment. Click4quote.com provide buy to let insurance for new and experienced landlords so ger a quote with us today.