NLA: Challenging year for buy to let market

21 December 2009

Written by David Whittaker

Buy to let property owners have had a challenging year, according to the National Landlords Association (NLA).

Chairman of the organisation David Salusbury gave a review of the past 12 months and said the private-rented sector is increasingly important thanks to the housing shortfall.

People still need property and are now turning towards landlords if they are unable to buy for themselves, he said.

"The coming year does look more positive, rental prices seem to be improving as a number of 'reluctant' landlords leave the rental market," Mr Salusbury explained.

He added that he hopes lenders will give better rates in 2010 so that the buy to let market can see a "kick start".

According to the association, it has had success in the past by lobbying the government and leading campaigns for issues affecting landlords and will continue to do so next year.

The NLA recently lobbied the government to change rules concerning the Local Housing Allowance.

On December 15th the association announced that it would campaign for better communication between landlords and councils in the UK on the subject.

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