2010 to be 'the year of the landlord'

Posted: 09 Mar 2010 10:59:10 GMT

The coming year is set to be the year of the buy-to-let landlord, according to one property expert.

Jon Brown, partner relationship manager at iammoving.com, says that with the recovery of the UK economy moving at a slow pace and mortgage lending tightened, an increasing number of would-be homeowners are moving into the rental market.

"As much as there has been a small recovery in the housing market, the majority of the UK public, while perhaps aspiring to buy a house, will still prefer to rent," he states.

Mr Brown's comments come in response to recent data from the Royal Institute of Chartered Surveyors, which revealed that house prices in the UK have increased by ten per cent since their lowest point in April 2009.

But he adds that the only reason why there has been an apparent growth over the last year is because of the scale of the crash that was experienced due to the worldwide economic downturn.

Mr Brown explains that while it is likely that house prices will continue to rise, achieving the levels of property value that were seen before the recession is "simply not sustainable".

© Houseladder Ltd