Buy To Let Updated:
Nearly half of landlords believe now is a good time to invest as demand for rental accommodation grows.
Bleak conditions in the housing market and low mortgage approval rates have meant a growing number of people are being forced into renting properties. The increase in demand from tenants has caused the cost of renting to balloon, considerably boosting investors' confidence to expand their portfolios.
The average monthly rent currently stands at £725, the highest level since October 2011.
According to the latest Landlord Survey by LSL Property Services, 64% of landlords expect demand from tenants to increase even more over the next year, with four in ten anticipating rises in monthly repayments.
Commenting on the findings, commercial director of LSL Property Services David Brown said: "House prices are still subdued in many parts of the country and tenant demand is still growing.
"This is presenting landlords with the opportunity to secure strong yields on properties, and boosting confidence in buy-to-let as a long-term investment."
Find the best buy to let mortgages with moneyfacts.co.uk Best Buys.
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