24 Oct

Buy to let sector shows strong growth in September

Buy to let sector shows strong growth in September

The buy to let sector of the UK market housing has enjoyed a strong month in September, according to chartered surveyors Connells Survey & Valuation.

Buy to let saw a month on month increase of 66 per cent, making it one of the best performing areas of the market. The total number of residential valuations that took place in September 2013 is up 65 per cent from the same time last year.

Experts from Connells Survey & Valuation have described the new figures as evidence of a “sunnier period in the financial world”.

Data from the report also indicates that first time buyer activity is also growing in relation to improvements in total levels of activity in the property market.

“Over the last year first time buyers have witnessed a reversal of fortunes. Every part of the home-buying industry is straining to keep up with a rejuvenated lending system. After five years of relative inactivity, the only danger now could be the pace of improvement,’ said John Bagshaw, corporate services director Connells Survey & Valuation.

As the rental market reaches its peak months landlords may look to expand their property portfolio could lead to a further increase in buy to let properties.

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