Good year for landlords

Posted: 15 Feb 2008 10:24:43 GMT


            Property News - Good year for landlords

UK landlords enjoyed a bumper 2007, according to the latest figures from Birmingham Midshires.

UK landlords enjoyed a bumper 2007, according to the latest figures from Birmingham Midshires.

The firm has published its bi-annual buy-to-let review, in which it reveals that total returns increased to 16.3 per cent in the year to December 2007.

The positive figure follows on from last year's impressive 13.5 per cent growth and is a clear sign of a healthy buy-to-let market.

Further to this, the average price of a buy-to-let property increased by 10.9 per cent in the year, while rental values also increased.

"The fundamentals underpinning the buy-to-let sector are sound. They include strong demand from higher immigration levels and housing affordability concerns for first-time buyers," said Time Hague from Birmingham Midshires.

"However, we expect house price growth to be more subdued in 2008, largely reflecting the impact of higher interest rates," he continued.

The review revealed that rent values increased to an average of £698 per month in 2007 to £617 per month in 2006.

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