Good news for the property investment market. The Association of Residential Letting Agents (ARLA) performed a quarterly survey revealing an increase in landlords buying investment property.
According to the survey, almost twice the number of ARLA members said that for the 2nd quarter of the year, landlords are buying more investment property.
The decision of the Bank of England to cut interest rates to a record low for the previous four months has helped landlords who were struggling. Half of those who were surveyed thought that the cut in interest rates has helped tempt property investors back into the market due to the low savings rates.
The ARLA survey also showed that the increased activity with buy-to-let could be as a result of increased rental return. Houses had risen from 4.8 % to 5.1%, with flats up from 4.9 per cent to 5%.