11 Oct

Demand for buy-to-let properties 'continues to rise'

Demand for buy-to-let properties 'continues to rise'

The demand from tenants for buy-to-let properties has reached a record high, it has been revealed.

According to research from the Association of Residential Lettings Agents (Arla), the number of people looking for rental accommodation is more than double the level in 2007, during the peak of the property boom.

Operations director of Arla Ian Potter said: "The market has bounced back in a way that no-one could have predicted to levels of demand that have not been seen since the last century."

He stated that more than 70 per cent of Arla's letting agents have said people are choosing to rent because they cannot afford to buy houses for sale in the UK.

Mr Potter added that the "unprecedented growth" will encourage landlords to invest in buy-to-let properties to help cope with the demand.

These findings come after the Press Association reported that rents increased during the third quarter of 2010 by 1.4 per cent, making investment in buy-to-let properties an attractive option for potential landlords, according to research from FindaProperty.com. ADNFCR-1222-ID-800109341-ADNFCR

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