Buy-to-let predicted to double

Posted: 26 Apr 2007 11:26:00 GMT

The UK buy-to-let market is set to double in size by 2010, new research has suggested.

The UK buy-to-let market is set to double in size by 2010, new research has suggested.

Market analyst Mintel revealed today the outcome of a survey which showed that the number of people in the UK currently owning but-to-let property in Britain stands at one million, with a further one million UK homeowners intending to purchase a second home to rent out.

Based on the figures established by the survey, this would raise the proportion of homeowners involved in the buy-to-let industry to six per cent of the total.

Mintel analyst Paul Davies said the figures showed that homeowners are "seeing the benefits" of property investment, in particular as an alternative means of providing for their retirement years.

He added: "As long as these trends continue, future growth in this market should be guaranteed."

The news comes the day after Leeds Building Society sought to tap into the growing market by offering a three-year fixed-rate buy-to-let mortgage at 5.75 per cent.


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