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Buy to let mortgage holders report growth

Tue, 01 Nov 2005

Buy to let mortgage holders in Greater London and the south east have seen rental incomes increase over the last month, according to a report.

In the south east, buy to let mortgage holders reported a rental rise of 0.8 per cent, according to Paragon Mortgages . In Greater London, buy to let mortgage holders reported a rise of 0.1 per cent.

"Due to sustained demand rental incomes have risen more rapidly than property values in some areas, which have in turn had a positive impact on rental yields," commented John Heron, managing director at Paragon Mortgages, to In2perspective. He pointed out that the start of the new academic year typically results in a higher demand for rental property , "especially in regions with large student populations like the south east and Greater London". The last 12 months have seen Greater London's rental incomes increase by 18.6 per cent. In the south east this figure was 6.5 per cent.

Buy to let mortgage investors have seen their properties increase in value over the last year in these regions.

Average property prices in Greater London have risen by 21.2 per cent. Buy to let mortgage holders in the south east have had property values increase by 4.9 per cent.

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