“As the fallout from the Government’s Comprehensive Spending Review (CSR) continues, it is clear that the impact on the housing market and private rental sector (PRS) will be significant”, says Belvoir MD, Dorian Gonsalves. “However, contrary to many knee jerk responses within online forums and industry blogs, I strongly believe that these exceptional market conditions, which include falling property prices, continued low interest rates and unprecedented tenant demand, now makes buy to let (BTL) a fantastic opportunity for long-term landlords.
“However, it is clear that our Government needs to better understand and take note of the needs of the PRS, and the critical role landlords play within the housing sector. Many industry bodies are asking the Government to help support the PRS by offering incentives to landlords and to increase pressure on lenders to make funding more accessible.
“With an estimated 490,000 public sector job cuts planned, and the residential sales market bracing itself for another dip, the situation is predicted to continue for the foreseeable future and new BTL landlords will be attracted by higher yields and attractive purchase prices."
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