The UK Buy to Let market is likely to see a boost in the coming months as more people consider becoming a landlord for the first time, it has been suggested. These Britons will mostly be made up of those seeking to invest in property to find a "safe place" for their cash, says independent property industry expert Malcolm Harrison.
Those lucky enough not to have had their ability to generate an income eroded by the recession could end up in the Buy to Let sector thanks to the perceived transparency of the market, he explains, commenting: "It is something that they can control and they are not handing their money over to a fund manager."
Despite this, new entrants to the Buy to Let market should ensure they take a long-term view, Mr Harrison cautioned, suggesting that "mature" investors realise they need to stick with this form of property investment for a minimum of ten years.
New landlords may be buoyed by recent figures from Savills pointing to a 1.8 per cent rise in prime London rents in the three months to June and an increase of ten per cent in the last year. Prime central London rents in particular saw their largest quarterly jump - 3.8 per cent - in years.