Landlord data has revealed that demand for private rented property remained high during the second quarter of 2013. 93% of landlords that took part in the survey, commissioned by Paragon, said that tenant demand was either growing or at the worst stable.
Most of the people interviewed believe that growth will continue, with only 6% being pessimistic. The good news continues as one in five aim to purchase further property within the next year.
John Heron, Paragon’s director of mortgages, said: “This long-running survey is designed to improve our understanding of changes in landlord sentiment, motivation and outlook, and the second quarter results paint a picture of a strong, confident and growing market.
“Landlords are consistently seeing strong rental demand, and on the back of better availability of buy-to-let mortgages they are planning to buy more property, which should improve the supply of property to tenants, thus easing some of the pressure that has been building.
“Nevertheless, tenant demand continues to remain high, and I suspect this will remain for some time as we wait for more significant improvements in the wider housing market and also for the various Government schemes to take hold and have an impact.”
William Taylor, of Martin & Co Huddersfield (Estate Agent Huddersfield, Property Management Huddersfield and Letting Agent Huddersfield) said “whilst these figures paint a promising picture, it is still hard for many of our tenants on a day to day basis. That said there is plenty of opportunity for investment in the area.”
For more information on investment property contact Martin & Co Huddersfield.