EXPERTS have predicted a ‘major cultural shift’ to more private renters than mortgaged home owners in the next few years.
This rise, which puts the number of private renters at just over 6 million by 2025, is positive news for investors in the buy-to-let market. Northamptonshire is already recognised as a property hotspot with house prices increasing year-on-year by twice the pace of the national average.
Now this latest forecast from NatWest senior economist Sebastian Burnside offers more opportunities for those who make the decision to invest in bricks and mortar.
Carl Davis, a partner at Nigel Davis Property Services, the Wellingborough-based independent letting specialists, said: “We have seen ongoing demand for high-quality properties to rent and it looks like this is a trend predicted to continue for the coming years.
“Many people face the challenge of having to buy their own home or need the flexibility of a short or longer-term lease because of work commitments so are looking for a place to rent.”
Other property market surveys confirm that fewer people are taking out mortgages because of the difference between incomes and house prices.
Carl said: “The buy-to-let market has stayed reasonably buoyant in this area, even when other parts of the country have suffered. The rail links to London and other areas like Milton Keynes, where prices are higher, are real benefits.
“Understandably, individuals might be nervous about making a move into the buy-to-let sector but whatever the future holds there will always be people looking to rent good-quality homes.
“We are able to give landlords support and advice to ensure they are meeting all their responsibilities. This can not only save them time and money but real peace of mind.
“We are able to assist throughout the whole process from sourcing a property to purchase, right through to managing the property on an ongoing basis for the new landlord. This support gives many landlords, especially those new to the buy-to-let market, the confidence to commit their finances and investments.”
For information about the full range of services provided by Nigel Davis Property Services call 01933 272292, email carl@nigeldavislettings.co.uk or visit the website at www.nigeldavislettings.co.uk
