Demand from tenants for rented properties is going up. According to Countrywide, it grew 51% in the first quarter of this year on the last quarter of 2010. The increase is greater than the 46% growth at the same time last year.
With a shortfall across every property category, the number of tenants vying for each available property is on average five for each UK let.
Of course in Cambridge the demand is even higher. According to a new survey from Spareroom, the demand ratio of tenants to available properties in almost eight to one in our university city, second only to London.
At the same time there has been an increase in the proportion of small-scale landlords – that’s landlords who own between one and three properties.
Put the two together and it seems to be a good time to buy to let.
Our customers certainly think so. At Limetree we’ve had a steady increase in the number of transactions with landlords over the last 6 months. The buy-to-let bubble has not really burst – or perhaps it was not a bubble in the first place.
If buying to let is something you would consider, why not talk to us about your options for borrowing money? We would love to help you get started or grow in this burgeoning market.