Buy to let landlords acquiring more properties
The renewed interest in buy to let properties is spreading from London to other areas throughout the UK, according to new research.
The Association of Residential Letting Agents (ARLA) and the Residential Landlords Association (RLA) conducted a survey of their members.
The results showed that 30% of buy to let landlords in the North East had increased their portfolios in the last 12 months. The figure was 26% for both theMidlandsand Greater London.
The research also showed that landlords in the North have the largest portfolios with an average of 13 properties, compared with an average of six inCentral Londonand the South East.
The Operations Manager at ARLA, Ian Potter, said: "Traditionally London has led the way with buy-to-let, but we are seeing signs that investors elsewhere in the country believe now is the time to buy - if you can arrange finance, it could be prudent to take advantage of lower property prices.
"Some towns across theUKare suitable for rental investment as they have a high number of students, while others - such as the recently unveiled Local Enterprise Zones - are areas being targeted for future growth.”
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