First-time freeze benefits landlords
SHOOTS of recovery have started to sprout in the buy-to-let market despite the cold snap, according to Dacre Son & Hartley.
Almost 20 per cent of sales now in hand at the estate agent’s Otley office alone are to buy-tolet investors. As rental demand continues to soar, landlords are taking advantage of the fall in property prices to build up their portfolios.
David Phillip, director of Dacre, Son & Hartley and head of the company’s investment department, says: “First-time buyers have been frozen out of the market as restrictions on lending have increased, so demand for rental properties is phenomenal. Landlords are, of course, benefiting from this.”