Buy to let sector 'inspiring confidence'

10 February 2010

Written by Simon Whittaker

The buy to let sector is inspiring more confidence in many British landlords, according to a recent survey by Upad.

Some 57 per cent of landlords told the rental website that they were more optimistic about their buy to let investments now than they were during the previous month.

Chief executive officer of the organisation James Davis said the sector could have "turned a corner" if the statistics are correct.

Renting could also become a more common choice among those who cannot afford to buy a home or who choose not to do so, which will benefit the industry.

"For the third consecutive month since we launched the Index, landlords have highlighted their growing confidence in the market," Mr Davis noted.

However, there were still many buy to let owners who know there are many challenges remaining.

Unemployment levels were high on this list of worries because this could cause rental arrears.

The Office for National Statistics recently revealed that the employment rate in the UK between September and November 2009 had dropped to its lowest level since winter 1996-97, at 72.4 per cent.

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