Qualified advisers answering your
Financial Questions
call 0800 092 1245

Buy-to-let market continues to boom

The buy-to-let property market is continuing to boom, despite higher interest rates, according to the Royal Institution of Chartered Surveyors (Rics). High property prices, which are forcing potential buyers to rent for longer, as well as a high level of immigration and a short-fall in new housing are all leading to an increased need for rented property, and as result, rents are rising at their fastest recorded rate.The Association of Rental Letting Agents (Arla) has reported record rental prices, with the average weekly rent for a flat being £525 a week in London, £215 a week in the South East and £150 in the rest of the country. Rics spokesman, Jeremy Leaf, said: "Current economic uncertainty has created an ideal platform for buy-to-let investors to cash in on rising rental levels."Many would-be buyers have decided to wait and see how the interest rate cycle will affect the market."He added: "Rising rents are offering some compensation for landlords that are experiencing higher borrowing costs although buy to let investment will struggle for funding in 2008 as lenders become more discriminating, especially for 'sub prime' properties."

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details