Rental property demand remains - buy to let mortgages

23 June 2009

There is still a strong demand for rental property in the UK, according to the latest research by the Royal Institution of Chartered Surveyors (Rics).

Jeremy Leaf, spokesperson for the group, said that those with buy to let mortgages are likely to benefit from rising rents in the coming months as more property owners opt to put their homes on the market and the private rented sector becomes less flooded.

His comments come after the net balance of Rics members reporting falls rather than rises in rents went from 48 per cent to 55 per cent.

The percentage of chartered surveyors who predicted that rents would drop further in the imminent future was not as high.

Mr Leaf stated: "Property transactions are starting to rise from very low levels and the influx of supply in the rental market has slowed as vendors begin to find buyers."

He added that as downward pressure on rents eases, landlords should reap the benefits. However, they may wish to heed the advice of Property Hawk website editor Chris Horne, who recently said that buy-to-let is a long-term investment.

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