22
Jun
More landlords to buy houses after 'increase in property market
confidence'
A recent surge in the number of landlords looking to buy houses is
the result of a profitable property market, it has been
reported.
Today (June 22nd), Paragon Mortgages announced that plans among
landlords to purchase residential houses have nearly doubled since
last year.
Managing director of the firm John Heron suggested that these
findings could be down to increased confidence.
He said: "There has been a significant jump in the percentage of
landlords looking to purchase property, which reflects the
increased level of confidence across the landlord community."
The figures showed that 21 per cent of landlords plan to buy
property during the third quarter of 2010, while 11 per cent
arranged to buy during the first three months of the year.
Mr Heron added that a rise in tenancy demand, which he predicted
will continue to increase over the next few years, also contributed
to the growth in landlords looking to invest in property.
Landlords have gained value on their properties over the last 12
months, as the Department of Communities and Local Government
revealed last week that house prices in the UK have risen by ten
per cent over the past year.
