PFL in the News
17th December 2007
Midlanders show know-how
WHEN it comes to property investment, Midlanders have their eye on the market, showing a greater interest in purchasing buy-to-let homes than in any other region across the UK.
According to Property for Life, 25 per cent more people in the area registered their interest in buying investment property during the second half of 2007 the greatest increase of all the regions. The property investment consultancy says the proportion of potential Midlands investors soared between June and November, reflecting the continued confidence in bricks and mortar as a solid long-term investment.
This region now provides more than 13 per cent of the UK's buy-to-let investors, second only to the South East whose investors make up 59 per cent of the total. David Austin, managing director of Property for Life, said: "Experience has taught us that the majority of Midlands based investors are textbook investors, buying in the area that they know best. "With extensive regeneration schemes and thousands of new homes planned, the Midlands currently offers excellent investment opportunities and this would help to explain the substantial increase in investor interest over the past five months."
Mr Austin says investor interest in property is still high across the UK and finds it extremely encouraging to see investors in the Midlands have had a boost in confidence, despite uncertainties in the housing market and the economy. He said: "Investors have every reason to be confident in the long-term returns of buy-to-let. "The high demand for rented property continues on its upward path and shows no signs of slowing as immigrant numbers increase and the younger generation put off buying until slightly later in life. "The private rented sector is an essential part of the property market, also taking up the slack on social housing."
