Landlords benefit from high demand

Buy-to-let property investors are benefiting from increased demand for their properties.

It comes as house prices rise and interest rates remain high, forcing more potential buyers to consider renting instead of buying.

According to Paragon Mortgages, the surge in demand has led to landlords charging record rents, with the average monthly rent reaching £111,066 in October.

That signals an annual rise of 10.2 per cent and Paragon points out that it believes the market is fundamentally strong.

"Much of the recent negative media comment on the buy-to-let sector has confused genuine well-researched buy-to-let investment with property speculation," said John Heron from the firm.

"There is solid and growing demand for decent, affordable rented homes in all parts of the country, but it is essential landlords purchase the type of property that meets tenants' needs and expectations.

"They want homes that are conveniently located for their place of work or study, with good transport links and local amenities," he continued.

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