The number of buy-to-let properties available to first-time landlords has risen to 2,235 this month, up from 1,311 this time last year, according to research by Money Facts. *
The influx of new properties coming to market is due to heightened demand for rental properties, which has influenced not only product availability in the wider buy-to-let sector following the pandemic, but also the number of available products on offer for first-time landlords.
According to Moneyfacts.co.uk, the share of the market accessible to first-time landlords has stayed relatively consistent year on year, accounting for 64% of BTL agreements this year, showing that lenders are ready to continue to cater to this demographic.
Experts are saying that the current buy-to-let sector is highly encouraging, and we can see that providers are still keen to attract first-time landlords. Plus, a recent RICS market study reported a "strong rise" in tenant demand across the UK, showing signs of a fruitful rental market for landlords this year.
Rents have climbed at the fastest rate on record, while renter demand has nearly doubled. So, it’s understandable that many people are choosing to invest in property now, especially as the returns on traditional savings accounts fail to beat the rate of inflation
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*According to recent research by Money Facts