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17 Dec 07 - Landlords 'Confident' For Future
Around 86% of landlords are confident of expanding their
property portfolios next year despite warnings of a slowdown
in the housing sector, a survey shows.
The survey for Bradford & Bingley found landlords are
confident about the future of buy-to-let properties, with
60% of those surveyed claiming to be "categorically
undaunted" by reports of easing demand.
Some 95% said they are confident that rental yields, which
are currently holding steady at 5.72%, will remain robust,
while 33% expect them to rise over the next six months.
Rentals have continued to remain strong amid the global
credit crunch, with figures revealing just a 1% difference
between rental and buying prices in some regions of the
UK.
Jeremy Law, head of buy-to-let at Bradford & Bingley,
said the figures are encouraging as landlords are "at
the coalface" of the housing market.
"If house prices stagnate or fall, we are likely to
see demand for rental properties strengthening, leading
to improved rental yields," he said.
"These are the people on the ground who are researching
their areas, taking out the mortgages, buying, maintaining
the properties and managing the tenants. Therefore their
opinions are important."
News items supplied by SelectNews, produced by PA Business,
part of the group that owns The Press Association, the UK's
national news agency. Copyright (c) PA Business 2007.
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