Aspiring homeowners boost buy-to-let market

05-Oct-2005

Confidence in the buy-to-let market is increasing as investors benefit from rising rent levels and a growth in tenant demand.

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Figures released by Paragon Mortgages showed that the market is growing in strength, with more aspiring homeowners than ever choosing to invest in a property and take advantage of rising rental yields.

"Landlords are responding proactively to demand and to the upward trend of rents," explained John Heron, managing director of Paragon Mortgages.

"In particular, the established investor, who takes a long term, professional approach to buy-to-let, continues to buy selectively and carefully, as and when he or she can secure a good deal on the right property in the right place."

For those who cannot afford to move in to their first property, the option of investing in a buy-to-let provides an alternative route to getting on the first rung of the property ladder and can help potential buyers to save up.

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Capital Economics property economist Ed Stansfield agreed that the market is showing good signs of buoyancy and described it as the "best letting conditions in years".

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