UK housing market remains stagnant as buy to let increases

Landlord Expert
By Landlord Expert August 10, 2011 08:12

Research released today (August 9th) by the Royal Institution of Chartered Surveyors (Rics) reveals that the UK housing market remains stagnant with 22 per cent more surveyors reporting a fall in prices.

However, demand for housing has slightly increased, with the number of new buyer enquiries increasing by five per cent (from zero), although the average number of properties on a surveyor's portfolio increased to 70.2.

Rics spokesperson Ian Perry said: "The UK housing market continued to stall during July; prices edged lower and sales levels remained subdued."

Despite this, research released yesterday (Monday 8th August) by the Association of Residential Letting Agents (ARLA) illustrated how the lack of actual house purchases has boosted the buy-to-let market, with both the north-east and the Midlands showing an increase (30 and 26 per cent respectively) in buy-to-let purchases.

ARLA's operations manager Ian Potter urged potential landlords to use a reputable letting agent that is a member of an accredited agency "as the industry remains unregulated".

Landlord Expert
By Landlord Expert August 10, 2011 08:12

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