UK is benefiting from buy-to-let
UK is benefiting from buy-to-let, says report Buy-to-let is a force for good in the UK housing market, an industry body has said. According to an academic report for the Association of Residential Letting Agents (Arla), the buy-to-let sector contributes over £30 billion to the British economy every year and has revived the housing market and urban regeneration.
Michael Ball, professor of urban and property economics at the University of Reading's business school, has forecast buy-to-let tenancy growth of between 20,000 and 30,000 every year over the next decade.
The report argued that buy-to-let has injected choice and competition in the private rented sector. Adrian Turner, from Arla, commented: "Arla went out on a limb to launch the modern concept of buy-to-let in September 1996. "Ten years on we are the first to admit that we could never have foreseen the success this was to be for investor landlords, their tenants and the private rented sector."
In related news, Welsh newspaper the Western Mail has said that migrant workers, particularly those from Poland, are providing the main source of activity for the buy-to-let sector in Wales.
posted by Ben Jooste at 10:03 pm
1 Comments:
I agree buy to let is the biggest thing in property development. Companies such as investment property north east will do all the hard work for you.
Quite a few of my fellow competitors use builders like 4CSltd to do up property to a professional standard and get the highest renting possible since their decor is outstanding.
I would also agree that it is the way forward. You struggle in the short term but after tenants have paid the mortgage you have pure profit. Not bad really.
I tend only to sell houses if i need cash straight away, otherwise rent
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