Changing market as the rental sector increases
WITH interest in the region’s buy-to-let market showing no signs of abating, Gascoigne Halman was interested in a recent report by mortgage lender Paragon highlighting that an army of two million private landlords own and rent out five million properties across the UK.
This means 18 per cent of all households now rent from private landlords and the proportion is growing as investors continue to see property as a source of future income and profit.
This, along with other statistics about an increasingly popular form of investment, provides the latest picture of the UK’s changing market as more and more people choose to rent.
The number of properties owned via buy-to-let has almost doubled in the period between 1996 and today and it is estimated the properties are worth a total of £1 trillion.
The government’s own figures indicate that by 2032, more than one in three properties will be owned by private landlords.
Gascoigne Halman is actively involved in the buy-to-let market and recently hosted a free landlord and investor seminar at the Best Western Cresta Court Hotel in Altrincham.
This was the third such seminar hosted by the estate agent this year.
As with the other seminars, the event was a sell-out, attracting more than 130 delegates, testimony to the level of interest in this booming sector.
Aimed at new and existing landlords, the seminars gave individuals advice on effective ways to approach the lettings market, how to raise capital for property and capitalising on investment in order to make the most of being a landlord.
Gascoigne Halman also provided top tips for success, as well as providing data on the latest market trends.
Philip Chadwick, who heads up Gascoigne Halman’s residential letting and management division, was the keynote speaker.
He was joined by
“Add to this the fact that many people are still unable to get on to the property ladder and recent news that interest rates will continue to remain low until the end of 2015, I expect rental demand to continue to steadily increase.”
●● Philip Chadwick, lettings director, Gascoigne Halman.