Fri, 01 Jun 12
A Private Rental Sector Health Check for April 2012 from market leading lettings agency Upad has revealed that almost 72 per cent of landlords are more confident about the UK buy-to-let market in April than in the previous month of March.
Asking 498 landlords whether they were more or less confident nearly 72 per cent said that their heightened assurance in the market was attributed to factors such as rising tenant demand, increasing rents and the Olympics.
James Davis, CEO of online lettings agent Upad comments:
'We arenít surprised that landlords are more confident. A recent report from RICS has revealed that rents increased further in the three months to April, as tenant demand continues to outstrip supply. With rents remaining on an upward course landlords are confident that they can grab a piece of the action highlighted by The Young Index, published by the Young Group who have discovered that nearly half of property investors questioned were considering buying additional properties across the UK in 2012 thanks to a buoyant rental market.
'At Upad, our research allows us to gain great insight into the optimism of landlords in 2012 and our results further back up the positive view regarding the UK rental market.'
Of course, each landlord questioned in Upadís survey had their own reasons for being confident in 2012. One landlord explained that continued tenant demand was a big factor for being confident stating: 'Upon asking tenants how theyíre finding things, the general response I receive is that they must make a quick decision or they will lose out on a property. They no longer have the luxury of viewing a number of different properties so ensuring my properties are well presented the first time round is very important.'
Meanwhile, other landlords pointed towards the loyalty of tenants as reasons for their increased assurance with one landlord explaining: 'I believe the rental market is strong in 2012. My tenants seem to want to stay put for longer - many ask to stay another year sometimes more and they didnít seem to mind a 3 per cent rise in rent - they didnít argue!'
Interestingly, confidence among others seems to have been boosted by the impending Olympic Games. One landlord based in North London remarks: 'Being based in Islington and City borders the rental market is strong, even at this time of year. While many people come to work and live in London anyway, the Games has really boosted rental demand this year.'
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