A recent survey of the Private Rental Sector during April 2012 has revealed that almost 72% of landlords are more confident in the UK buy-to-let market in April than in March, quite an immense increase.
The survey was conducted using a sample of 498 landlords. Reasons given for this increase in confidence included factors such as rise in tenant demand, increasing rents, and the Olympics.
CEO James Davis said of the results, "We aren't surprised that landlords are more confident. A recent report from RICS has revealed that rents increased further in the three months to April, as tenant demand continues to outstrip supply. With rents remaining on an upward course landlords are confident that they can grab a piece of the action highlighted by The Young Index, published by the Young Group who have discovered that nearly half of property investors questioned were considering buying additional properties across the UK in 2012 thanks to a buoyant rental market."
The landlords questioned that expressed confidence in the buy-to-let market did so for a variety of reasons. One of the landlords questions answered, "Upon asking tenants how they're finding things, the general response I receive is that they must make a quick decision or they will lose out on a property. They no longer have the luxury of viewing a number of different properties so ensuring my properties are well presented the first time round is very important."
Another stated, "I believe the rental market is strong in 2012. My tenants seem to want to stay put for longer - many ask to stay another year sometimes more and they didn't seem to mind a 3% rise in rent - they didn't argue!"
And a third pointed to the Olympics as a significant factor: "Being based in Islington and City borders the rental market is strong, even at this time of year. While many people come to work and live in London anyway, the Games has really boosted rental demand this year."
Although the Olympics is unlikely to prove to be a significant factor up here in Yorkshire, the overall trend is a positive one, going hand in hand with the recent finding that most tenants are satisfied with their current landlords.
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