Landlords confident of strong tenant demand in 2008 |
03 2008 |
| Despite the property sector being widely expected to dip over the coming months, owners of renal accommodation are confident that they will see their incomes remain steady as tenant demand remains strong. According to the latest report from Paragon Mortgages, which lends to buy-to-let landlords across the UK, yields from property within the sector are likely to grow by 6.5 per cent over 2008. In addition, increasing demand from those looking to rent a property will mean that average 'void periods' will be cut to just 2.6 weeks across the UK market. Commenting on the outlook for the sector, Paragon managing director John Heron explained that landlords will be able to take advantage of the market and spot under-valued properties and select the locations most appropriate for prospective tenants. New figures from the Council of Mortgage Lenders show that 40,000 fewer mortgages were approved in 2007 in comparison to the previous year as people choose to rent instead.  |
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