Mortgage Express releases quarterly buy-to-let confidence report
Mortgage Express has released the results from its Quarterly Buy-to-Let Confidence Report.
– Market remains stable
– 77% of respondents experienced no void periods
The report provides an authoritative insight into the sector by canvassing respondents on key buy-to-let issues.
Key findings for the third quarter of 2004 are:
– 45% of respondents believe that demand for rental property has remained constant and 36% believe demand was increasing.
– 77% of respondents had not experienced any void periods in their properties over the past six months. 45% of respondents said that they had experienced no void periods in the past 12 months. Of those respondents that had experienced voids in the last year, only 13% had voids lasting longer than one month.
– 84% of respondents said that they had not experienced any rent arrears in their properties over the past six months.
– 60% of respondents said that rent levels had remained constant over the past six months, and 67% said they believe they would continue to do so over the next six months.
Looking forward, 52% of respondents said they plan on keeping their portfolio at its current level, while 36% are planning on increasing it.
Roger Hillier, product development manager at Mortgage Express, says: ‘‘Although the rate of growth has slowed slightly, key indicators such as rent levels, arrears and void periods remain positive’’.
‘‘With 77% of respondents saying that they had no void periods in the past six months, and 88% saying they believe voids will remain at their current level or decrease, there is further evidence that we can be confident about the outlook for buy-to-let’’ Hillier added.