Buy-to-let market sees 'substantial' growth

Posted: 11 Feb 2008 12:45:56 GMT


            Property News - Buy-to-let market sees 'substantial' growth

Landlords in Britain have seen the collective value of their properties increase by £5.79 billion a month, it has been revealed.

Landlords in Britain have seen the collective value of their properties increase by £5.79 billion a month, it has been revealed.

Research conducted by Sainsbury's Home Insurance shows that in November 2006, the combined value of properties owned by landlords in Britain was £571.38 billion.

By November 2007, this figure had reached £641 billion.

"The buy-to-let market has grown substantially in recent years," commented Steve Johnson, head of home insurance at Sainsbury’s Finance.

"People have invested a huge amount of money into this sector and as a result of rising house prices many have seen the value of this investment grow substantially."

Landlords in London benefited most from the increases, while those in Wales profited least.

Further evidence of the expansion of the buy-to-let sector has been provided by Sainsbury's in the shape of figures which show the number of buy-to-let mortgages increased by 98 per cent over a three-year period between the first six months of 2004 and the same period in 2007.


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