Buy-to-let market 'to remain buoyant'

15-Nov-2006

First time buyers looking to invest in property should not worry about a downturn in the buy-to-let market, research suggests.

According to a study by UCB Home Loans, the buy-to-let market is unlikely to suffer a downturn as a result of reduced immigration, ensuring that first time buyer landlords maintain a constant influx of tenants.

Indeed, government statistics suggest that from 2004-06, around 500,000 workers from central and Eastern Europe arrived in the UK, with most looking to rent rather than buy.

"Young foreign workers have provided substantial support to the UK economy over the past couple of years," said Keith Astill, managing director of UCB Home Loans.

"If the number of [immigrants] coming to the UK does ever begin to fall off, it is likely the government will alter regulations to enable workers from other European Union countries to take their place," he added.

UCB Home Loans is the specialist lending arm of Nationwide Building Society.

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