propertytalk Live! - Brokers positive outlook on buy-to-let market

propertytalk Live! - Brokers positive outlook on buy-to-let market

A new survey gauging brokers' expectations of the buy-to-let market has painted a positive outlook for the coming year.

Overall, the majority of brokers surveyed believe the number of new landlords will increase this year and that very few professional landlords will be looking to sell part of their stock in 2011.

While there may still be some way to go before a full recovery is seen, the signs are that the buy-to-let market is in a buoyant mood.

The Mortgage Works asked brokers about their experiences in 2010 and their expectations for the buy-to-let market in 2011. The survey focused on first-time landlords, professional landlords, buy-to-let products and the market as a whole.

51% of brokers think the number of new landlords will increase in 2011, compared to 24% who think it will decrease.
56% of brokers believe that when a client buys their first buy-to-let property, they will remain open minded about future purchases.

Ian Andrew, Head of Intermediary Sales at Nationwide and The Mortgage Works, said: "These results show that the outlook for first-time landlords in 2011 is broadly positive. At the same time, we also recognise that some challenges do remain. For example, we know 45% of brokers found the number of first-time landlord applications in the second half of 2010 had decreased, compared to 33% who found that it had increased."