UK Money News
1st May 2008
Outlook improves for buy to let landlords
The outlook for landlords has continued to improve this year, with average monthly rents up four per cent in the last three months.
As a result of the rise the average monthly rent is up to £1,000 per month, according to new data from Paragon Mortgages Buy to Let index.
One of the principal factors behind the increase is the uncertainty in the property market, which is causing many potential buyers to delay purchasing a home.
This is driving up demand for rental accommodation, said John Heron, Paragon's director of mortgages.
He commented: "The backdrop for buy-to-let remains positive across the country - potential residential purchasers are reluctant to buy in the current market or are unable to secure a mortgage and this is fuelling extra demand for rented accommodation.
"The average rental property now generates in excess of £1,000 per month, and this upward trend looks set to continue in the future."
Rents are now 12 per cent higher than they were six months ago.
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