Insurance News Archive

Buy to let insurance customers 'causing change in demand'

Buy to let insurance customers are changing the type of property they are looking for, a new survey has revealed.

Research conducted by the Royal Institution of Chartered Surveyors (Rics) has shown that there has been an increase in the number of landlords purchasing houses.

Meanwhile, interest in flats has declined by 15 per cent across the UK, the report revealed.

According to Rics, the rise in interest in houses was seen in the three months to September, with some areas experiencing an even greater change in demand from buy to let insurance customers.

In the north-west, 29 per cent of surveyors reported an overall increase rather than a fall in buy-to-let demand for house properties, though the West Midlands experienced the opposite, with 21 per cent of agents seeing a fall.

The figures were published after recent data released by the Association of Residential Letting Agents showed that the average number of properties held by buy to let insurance customers rose from 6.3 to seven in the last 12 months.

27 Oct 2009