2 Mar

Private rental sector boost

Private rental sector boost

The private rental sector is being boosted by the number of "accidental landlords" coming into the market because of the fact that they are struggling to sell their own homes.

The Co-operative Bank has reported a fifth of all its buy-to-let customers are now accidental landlords who had to move out without being able to sell their own homes, which could prove to be a boost in the short term for a sector which has far higher demand than supply.

Lee Gladwell, business development director at Platform, the Co-ops intermediary lender, said: "Uncertainty around the economy, employment and house prices is continuing to dampen demand for house purchases and this is driving demand from those choosing to rent rather than buy."

Last year, it was reported that rents increased for landlords in nine consecutive months, which could mean that landlords will see a decent return, even if they have been forced into the sector.ADNFCR-1222-ID-801308604-ADNFCR

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