Bullish reports on the buy to let market suggests it is set to grow by 40 per cent over the next 10 years, with an increasingly large group of ‘professional landlords’ leading the way.
Positive attitudes towards renting and a desire to be 'footloose and fancy free' have sparked a surge in the buy to let market, said Alliance & Leicester Mortgages. Its Changing UK Household Market report, undertaken in conjunction with the Centre of Future Studies, suggests the buy to let market will play ‘a pivotal role in the future of the UK housing market’.
Key drivers include a rise in the traditional rental market, especially among students and single people, a younger generation that considers renting more socially acceptable, and an increased use of rented property by people seeking flexibility and mobility.
'Current trends will also continue to contribute to the success of the buy to let market. For example, the rise of 'professional landlords' - those with rental income equivalent to the national average wage. This group now accounts for a fifth of all landlords', said the report. More >>
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