Buy to let booming in North of England

In the first quarter of 2011 rental figures have increased by nearly 8% as a flood of landlords return to the northern property market.

The mini-boom has been boosted by low interest rates, restricted borrowing and the lack of first-time buyers.

Property is now very affordable in Manchester, but only for those with money behind them or a decent deposit.

And for the north of England, that means landlords, both professional and amateur.

Philip James owner Philip Nolan said: "Landlords are having a field day in the north of England.

"In the first quarter of 2011 one of our Manchester branches witnessed two-thirds of its entire rental property stock rise sharply in value without a single property dropping.

"This is a record for Manchester and we expect the trend to continue throughout 2011 and into 2012."

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One thought on “Buy to let booming in North of England

  1. Ash The Newcastle Estate Agent

    In the newcastle and surrounding area we are also seeing rises in rents although, maybe not as high as the previous post. The future however, looks very strong for the rental market especially in the affluent towns of Newcastle, Jesmond, Gosforth, etc. We see this trend continuing with sales still very sluggish and not likely to move upwards for some time.

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