Friday, August 22, 2008
“Frustrated landlords can’t get funding – they want to keep buying but are hindered by the dwindling buy-to-let lending market”
This week the Royal Institute of Chartered Surveyors revealed there has been a record rise in the number of properties available for rent. Some 43 per cent of surveyors polled by RICS reported a rise in new landlords - a 10-year high. RICS attributed this statistic to the fact that more people are unable, or unwilling to sell their properties right now, choosing instead to let. Many new landlords are taking a ‘wait and see’ approach, preferring to hold on to their assets rather than selling for a potential loss.The study also found rents continued to rise while house prices fell, pushing yields up. Basically RICS reported perfect landlord conditions up and down the country.