A string of new surveys show increasing numbers of investors returning to buy-to-let as restrictions on mortgages continue to force would-be first-time buyers into the private rented sector.
Data from the Council of Mortgage Lenders reveals that in the first nine months of 2012 £11.8bn worth of buy-to-let mortgages were agreed, a 19% rise on the £9.9bn in the same period of 2011.
A survey for the National Landlords Association shows that four out of five buy-to-let investors regard their property income as their pension. About 61% plan to live entirely off their rental income when they retire, and 39% say they will choose a retirement date based on the state of the housing market and their investments' value.
Average rents in the private sector have hit a high of £741 a month, with the highest in Greater London at £1,092 and the lowest in northeast England at £529. Photograph: Christopher Furlong/Getty Images
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