Tuesday, Sep 11, 2007
Know when to hold 'em...
Firstrung: Buy to let holding up as first time buyers sit out and owners cash out
Buy-to-let investors returned to the market as rental growth reached record levels. Tenant demand for rental property has been boosted by declining accessibility, rising uncertainty and a slowing housing market which has reduced the impetus on would-be home buyers to enter into the market, says the RICS Lettings Market Survey...
Posted by converted lurker @ 11:02 AM (308 views) Add Comment
2 Comments
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1. Si said...
I found this a bit confusing...
"29% more Chartered Surveyors reported a rise than a fall in tenant lettings, up from 15% in the last quarter."
Doesn't this say that last quarter 15% report a rise, and this quarter ~%20 reported a rise... hence 80% still reported a fall this quarter?
Surely this is still bad news (albeit reporting that the fall is less, it's still a fall overall!) Or am I reading it wrong?
2. cyril said...
At the moment, there is still a shortage of housing relative to demand, so rents are high. If owner occupiers start to trade down, this will release a bit more housing on to the market and rents will tend to fall. At the moment there's not much incentive for owner occupiers to trade down, but there might be when higher interest rates begin to bite.