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Property values grow by £69.5 billion
11 February, 2008
The value of investment property is increasing by £5.79 billion each month, Sainsbury's Home Insurance has claimed.
This has led the provider to urge landlords to make sure they have adequate insurance cover in place across their whole portfolio.
The research also revealed that the estimated collective value of UK rental properties had reached £641 billion.
Currently, around 2.76 million properties belong to landlords in Britain.
Looking at buy-to-let lending analysis comparing the first six months in 2004 and the first six months in 2007, it is possible to see the extend of the buy-to-let surge with the number of buy-to-let mortgages increasing by 98 per cent.
London still boasts the most rented properties, followed by the South East and the South West.