Property buying 'surpasses selling' among landlords
Property professionals
31st March 2009
For the first time in two years, UK landlords are purchasing more properties than they are selling, it has emerged.
According to a survey of its members in the private rented sector, the Association of Residential Letting Agents (Arla) found one in 12 respondents reported that purchases have exceeded sales.
Ian Potter, operations manager at Arla, said that property prices are currently relatively low.
"The serious investors in buy-to-let property ... are looking at the right types of property in the right area where there is still tenant demand," he commented.
In February, Nationwide reported that average price of a house in the UK dropped 1.8 per cent to £147,746 compared to the previous month.
Data from the building society shows that house prices have fell by more than 17 per cent over the last 12 months.
Formed in 1981, the Arla is the professional and regulatory body for the UK's letting agents.
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