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Paragon tracks PRS trends
publication date: Jul 27, 2009
Paragon Mortgages have just released their Private Rented Sector Trends Q2 2009 report, a quarterly survey of landlords that tracks developments in the UK’s buy-to-let market and wider private rented sector.
Key highlights of the three months to the end of June include:
• The average yield across landlords’ portfolios rose from 6.2% in Q1 to 6.4% in Q2
• 30% of landlords predict that tenant demand will rise over the next 12 months
• Nearly one in 10 landlords has purchased buy-to-let property in 2009
• However, 43% of landlords state that a lack of mortgage finance is the main obstacle to expanding their property portfolio.
John Heron, Paragon Mortgages’ MD says: ‘Landlords are telling us that they want to buy more property because they recognise that yields are increasing, but the lack of available finance in the buy-to-let mortgage market is making it difficult. Until more is done to increase lenders’ access to funding, we could see the private rented sector enter into a period of stagnation because landlords are struggling to buy.’
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