Rics says buy to let mortgage holders 'enjoying strong period'

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Rics says buy to let mortgage holders 'enjoying strong period'

Fri 3rd Dec 2010

Buy to let mortgage holders are currently enjoying a relatively good period, according to Rics.

Spokesperson for the chartered surveyor institution Jeremy Leaf highlighted how the shortage of housing supply has led to increasing rents.

He suggested more landlords may be looking to add properties to their portfolios in recognition of the market conditions.

"The lettings sector has become increasingly strong over the past nine months, in contrast to the housing market which continues to slow," said Mr Leaf.

His comments were made after the Rics Residential Lettings Survey for the three months to the end of October recorded that 39 per cent of surveyors saw rents increase during the period.

Mr Leaf also claimed the number of investment mortgages available to landlords has risen in recent months.

Last month, Rics chief economist Simon Rubinsohn suggested there is a "yawning gap" between the projected demand for housing in the near future and the number of properties being constructed.

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