July 24, 2010
Buy To Let Tenant Demand Continues To Rise
Nearly three times as many property investment landlords reported that tenant demand was rising rather than falling during the second quarter of the year, Paragon Mortgages’ PRS Trends Report has revealed.
The quarterly snapshot of the private rented sector and buy to let market shows that 29 percent of landlords with buy to let investment property recorded growing levels of tenant demand during the period, compared to 10 percent who said it was falling.
Both of these measurables increased compared to the first quarter of the year, when 24 percent of landlords reported growing tenant demand and 8 percent reported falling levels of demand.
Tenant demand was stable for the majority of landlords during the second quarter (54 percent), whilst 7 percent said they were unsure which direction demand was heading.
Looking forward, landlords expect tenant demand to strengthen considerably. Over a third of landlords (35 percent) expect demand to be higher in 12 months’ time, with 8 percent forecasting a decline.
