Could buy to let landlords see more tenants with fewer property purchases?

09 September 2010

Written by Steve Olejnik

More people could have been looking to rent houses from buy to let landlords in August, as there was a dip in the number of people purchasing their own property.

According to the National Association of Estate Agents, the average branch made seven transactions last month compared with eight in July.

Meanwhile, the number of individuals registering to look for houses to buy decreased to 250 in August compared with 292 in the previous 31 days.

However, supply is increasing, with agents typically having 69 properties on their books last month - rising from 68 in July.

The market is not in decline, the president of the body Michael Jones noted; however, its outlook will become clearer in the coming months.

"We would expect some indication during September and October as to which way it is likely to go, before we get the traditional pre-Christmas slow-down," he said.

Meanwhile, the supply of buy to let properties is decreasing, the latest Royal Institution of Chartered Surveyors Residential Lettings Survey revealed, seeing rises in tenant demand and rents.

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