Residential Sales
Home Information Packs
Residential Lettings
New Homes
Commercial Property
Mortgage Services
About Michael Jones
Our Offices
Contact Us
Links
Buy to Let Market Set to Double
(Click image to enlarge)
Buy to Let Market Set to Double
A shortage in the number of properties available to rent has driven tenant demand through the roof, fuelling interest in the buy to let market according to leading estate and letting agents, Michael Jones.
An article published in ‘Landlord Matters’, Michael Jones’ new newsletter for landlords, cites a recent quarterly review undertaken by the Association of Residential Letting Agents, which shows four out of ten landlords expect to increase the size of their portfolios this year. Less than 1% plan to sell up and leave the market, and most appear to be in it for the long term.
Research conducted by Mintel supports this predicted growth. It reveals that one million homeowners say they are planning to invest in the buy to let market within the next three years – doubling the number of landlords in the rental market.
“This is excellent news for the housing market, particularly given the current downturn,” says Michael Jones. “Over the past few months, rents have been rising faster than house prices, encouraging more and more people to buy a property to let. Property is still seen as a solid investment and for many a second home is a nest egg for their retirement.
“With our chain of residential sales and lettings offices along the coast, we are able to guide buyers through the whole process, from finding a suitable property and arranging a mortgage on it, to letting it to a desirable tenant. We can help vendors to achieve a sale and prospective landlords to achieve a high rental income. We also have a financial advisor who can provide independent advice on obtaining a mortgage. There are very few agents in West Sussex who are as well placed and have the experience, expertise and resources.”