The nation’s first buy-to-let boom came to an abrupt halt in 2008 when lenders shut their doors to investors and property prices fell.
The market recovery and improved lending have prompted interest from would-be and established landlords, but 2015 could see a full-blown renaissance thanks to pension reforms and institutional investors.
In spring, the over-55s will be able to draw their pension as a lump sum and many are considering buy-to-let.
Graham Bates, a seasoned property investor and owner of Eddisons Residential, says: “Buy-to-let really is back and there is little doubt that our love of bricks and mortar is only set to push more and more investors towards property.”
He says that those thinking of putting money into property should consider city centres, which have a rich supply of tenants and added: “There is no question in my mind that our city centres, including Leeds, Sheffield and York, are going to become even stronger residential destinations with more people wanting to live closer to work and choosing an urban lifestyle. Fewer people under 30 and without family responsibilities want to live in the suburbs.”
Andrew Wells, a partner at Allsop valuers and auctioneers, adds: “The level of interest in buy-to-let is growing steadily, driven by an underlying feeling of confidence in the market, no shortage of tenants and a good availability of finance.”
Research by Allsop and BDRC shows that 27 per cent of landlords expect to buy at least one additional property in the next twelve months and only nine per cent said they would sell. “
“This suggests that landlords are pretty happy with their investment,” says Andrew.