UK landlords end 2009 on a high
11/02/2010 12:11:00
UK landlords enjoyed a strong end to 2009, with an increasing number finding stability in the 4th quarter, according to a new sector trends report by Paragon.
The report showed that many landlords successfully grew the size of their portfolios last year, and that the level of tenant arrears dropped too.
A healthy one in ten landlords displayed an intention to purchase property in the first quarter of 2010. The results have lead Paragon to suggest that overall confidence in property investment seems to be returning.
Nigel Terrington, Chief Executive of the Paragon Group, commented:
“The recovery of the buy-to-let lending market is largely dependent on the recovery of the wholesale funding markets.
"We now need to see momentum in the number of new issues, and only then can we truly say that we are emerging from the credit crunch."
The survey by Paragon confirms further research carried out this month by Upad.co.uk, which showed that 57% of landlords felt more confident about the buy-to-let market in February 2010.
