Photo Caption: Philip Chadwick, Lettings Director, Gascoigne Halman
With interest in the region’s buy-to-let market showing no signs of abating, Gascoigne Halman were interested in a recent report by mortgage lender Paragon that highlighted that an army of two million private landlords now own and rent out five million properties across the UK. This means 18% of all households now rent from private landlords and the proportion is growing as investors continue to see property as a source of future income and profit.
This, along with other statistics about this increasingly popular form of investment, provides the latest picture of the UK’s changing market as more and more people choose to rent.
The number of properties owned via buy-to-let has almost doubled in the period between 1996 and today and it is estimated the properties are worth a total of £1 trillion. The Government’s own figures indicate that by 2032, more than one in three properties will be owned by private landlords.
Gascoigne Halman is actively involved in the buy-to-let market and last week hosted a free Landlord & Investor Seminar at the Best Western Cresta Court Hotel in Altrincham. This was the third such seminar hosted by the estate agent this year. As with the other seminars, the event was a sell-out, attracting over 130 delegates, testimony to the level of interest in this booming sector.
Aimed at both new and existing landlords, the Landlord & Investor Seminars gave individuals advice on effective ways to approach the lettings market, how to raise capital for property and capitalising on investment in order to make the most out of being a landlord. Gascoigne Halman also provided top tips for success, as well as providing data on the latest market trends.
Philip Chadwick, who heads up Gascoigne Halman’s Residential Letting & Management division was the keynote speaker. He was joined by Adrian Moloney from Nationwide/The Mortgage Works, Paul O’Brien from TFD Dunhams Accountants, and Andrew Bartley from Jolliffe & Co Solicitors. Topics discussed on the evening included ‘What makes a good buy-to-let’, ‘How to finance a buy-to-let’, ‘Tax advice’, and ‘The legal side of things’. There was also the opportunity to raise any questions with the experts at a Q&A session at the end of the event.
Speaking about the event, Philip Chadwick, said, “South Manchester and North Cheshire have many desirable locations, so it’s no surprise that the lettings market is strong in the area. We are continuing to see significant interest from individuals who are new to the buy to let market as well as existing landlords who are looking to expand their portfolio. Add to this the fact that many people are still unable to get on to the property ladder and recent news that interest rates will continue to remain low until the end of 2015, I expect rental demand to continue to steadily increase.”