Buy-to-let sector services growing rental demand, landlords argue |
25 2008 |
| Buy-to-let landlords simply cater for the strong demand for rental accommodation across the UK rather than make the market less affordable for prospective first-time buyers, it has been argued. Despite the recent criticisms that the buy-to-let sector has driven overall house price inflation, the Association of Residential Lettings Agents (Arla) has claimed that the needs of renters are very different from those of buyers and, as such, the properties they would be interested in are not similar. Responding to the charge, Malcolm Harrison, a spokesman for Arla, said: "I think that's a load of rubbish because the buy to let investor tends to go into the middle market; and buy-to-let, until very recently, has done no more than refinance big chunks of the private rental sector, and only in the last year or so has actually helped to grow the private rental sector." A growing student population, increased numbers of immigrants, high rates of divorce and the need for flexible working and mobility have all been cited as reasons behind the rising demand for rental accommodation across all parts of the UK.  |
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