We are now two weeks into 2011, and the buy-to-let property market is stronger than ever, and landlord confidence at an all time high.
The January Upad Landlord Confidence Index revealed that 63% of residential landlords are more confident than last month, up from 60% in December. The main reason for this was a higher demand from tenants.
This is the highest we have seen landlord confidence since January last year. However they still have a number of concerns. Finance for properties remains difficult to access, which has made it difficult for landlords to increase their portfolios to meet increased demand for rental property. In a time of high unemployment it would make sense for landlords to have a greater access to finance to buy new property so that they can bring more properties onto the market, which will make house rental prices more affordable.
Grant Shapps, housing minister stated last Monday that unaffordable house prices were ‘crazy’ and that he wants to stabilise the market. However it might be more useful if he was to intervene in the finance market, to ensure that both landlords and first time buyers have access to the mortgage products they need.
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