According to a report in the Guardian newspaper, private landlords are expected to own \u00a31tn worth of properties by spring 2015, even though property price growth is beginning to slow down.<\/p>\n
PRS in London Booming<\/strong> Buy to let lending is also on the rise once again. Around 40% of lending last year was to landlords and with interest rates set to stay low for a while longer, this figure is likely to increase. Figures released by one mortgage lender indicate that one in five homes will be rented by 2015.<\/p>\n Rising Property Prices Fuels Rental Sector<\/strong> \u201cLandlords have benefited from the recovery in house prices since 2009, which has pushed their wealth to within touching distance of \u00a31tn. But as the sector\u2019s value marches upwards, the main impetus has come from the growth in the number of households as demand from tenants<\/a> continues to climb,\u201d says Andy Golding, CEO of OneSavings Bank.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" According to a report in the Guardian newspaper, private landlords are expected to own \u00a31tn worth of properties by spring 2015, even though property price growth is beginning to slow down. PRS in London Booming The private rental sector is … Continue reading
\nThe private rental sector is now 3.5 times larger than it was back in 2001 and landlords now own a staggering \u00a3930.7 billion worth of property<\/a> in the UK. Much of the growth in the rental market is centred in London and the South East \u2013 London currently accounts for 41% of the rental sector\u2019s value.<\/p>\n
\nMuch of the boom in the rental market is as a result of rising property prices and increasing interest from investors. First time buyers can no longer afford to buy cheaper homes so landlords are snapping them up instead. Landlords in the UK currently receive nearly \u00a34 billion per month in rental income.<\/p>\n