Figures this week have emphasised just how important the buy to let sector is to Britain at the moment. This does not look set to change in the near future either. Apparently the actual stats are that nearly two thirds of British tenants have looked into purchasing their own property and found that it was not an affordable option.
Without making too much of a comment on what that says about the state of the economy, it makes it crystal clear how much this country is relying on its buy to let landlords to provide accommodation for its citizens. And it looks like being a long term thing.
Approximately 55 percent of tenant respondents expected to rent for the remainder of the year and for as long as three more years according to Rightmove’s first Consumer Confidence survey for 2010. Nearly one third of all tenants (31 percent) anticipated renting for more than three years.
In a very interesting turn of phrase Rightmove noted that the results of the current survey indicate that 2010 may very well be the “Year of the Landlord.”
Let’s hope that government acknowledges the importance of our sector with some key reforms in the very near future.
