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Property investors looking away from London
Date: Fri, 11 Nov 2005
The rising property prices within London mean that many investors taking out commercial mortgages to fund the expansion into the rental market.
A study from Landlord Mortgages shows that just 8.56 per cent of all rental properties purchased in 2004 were based in London, five per cent less than in the previous year.
Instead potential landlords are taking out commercial mortgages for properties in other parts of the south-east as well as in the north-west and the East Midlands regions.
"Despite the fact that London has traditionally had a strong buy-to-let market, over the last few years investors have started looking elsewhere. The capital is simply too expensive to provide the type of yields and potential capital appreciation that investors are looking for," said Lee Grandin, managing director of Landlord Mortgages.
The number of buy-to-let purchases in the south-west has grown to 22.54 per cent, with the north-west accounting for 13.41 per cent of sales and the East Midlands just over ten per cent of the market.
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