Insurance News Archive
Rental sector 'to boom' this year
The rental sector will boom in the coming year as young people prefer to lease a home rather than buy one.
Industry experts have predicted an increase in age for first-time buyers as reduced loan-to-value ratios will see people getting older before they can afford to purchase a home.
John Heron, managing director of Paragon Mortgages, says help must be given to landlords as the recession continues and demand increases.
"The government must show its support for the industry by ensuring that any measures to support struggling property owners, such as the new Mortgage Guarantee Scheme, apply to landlords as well as owner occupiers," he adds.
However, Keshav Thukaram, managing director of Smartlandlord.co.uk, expects to see an increase in buy-to-let landlords coming to the market as interest rates and prices drop.
The comments were made at this week's Land Data Great Housing Market Debate, with 70 per cent of delegates also thinking that while home improvement packs should be kept, they should be adapted and improved at the same time.
In a move intended to boost the first-time buyer market, this week's Budget saw the stamp duty holiday on homes up to £175,000 extended to the end of the year.
24 Apr 2009
