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16 May 2013
At scottfraser Investments we have our finger firmly on the pulse of the Oxford investment market.
Our Investment Search and Acquisition Service is tailored to the needs of landlords who lack the time, experience or desire to commit to researching the market and undertaking the necessary legwork for viewing properties.
John Gebbels, Property Investment Manager, brings a decade of experience both in Oxford and Central London, and specialises in sourcing and securing prime buy-to-let property.
Buy-To-Let Sector Marks 15th Anniversary
04 Oct 2011
Buy-to-let was launched on 24th September 1996 by the Association of Residential Letting Agents (ARLA). 15 years on John Heron, Paragon Group Director of Mortgages, recalls the launch of the initiative: “Buy-to-let was developed in response to the surge in demand for rented property following the recession of the early nineties. The problem was a lack of property supply; there was no finance vehicle specifically designed for people investing in rental property.”
There are now 330 buy-to-let mortgage products on offer. The wide choice and availability of Buy-to-let (BTL) products is credited as the most significant reason for the expansion of the Private Rented Sector (PRS), which now accounts for 15.6% of the market.
This trend is likely to continue to rise as homeownership becomes unattainable for many households and it is predicted that by 2020, the PRS could account for well over 20% of the market.
The increase in demand for rented property signifies a decline in homeownership and a shift towards a more European attitude to owner-occupation. In Germany, homeownership is as low as 43.2%, compared to almost 70% in the UK. With an average age of 37 for first time buyers, we are starting to see more Continental ideals creep in to the UK.
The choice to privately rent can also be attributed to the UK’s workforce becoming mobile, as a ‘job for life’ becomes a thing of the past. Oxford is a prime example of the UK’s fluid workforce with a regular changeover of staff at the hospitals and research facilities, and more noticeably with students of the University and its colleges.
Even in today’s uncertain times, according to surveys almost 77% of investors would consider expanding their portfolio over the next year and many remain optimistic about the future of the PRS. At the launch of BTL 15 years ago, ARLA could not have foreseen it would be such a success and the positive affect it would have on the market.
The scottfraser acquisitions department is currently offering a number of properties for sale with tenants in-situ. These are available exclusively to scottfraser clients and come with our highest recommendations. For more information, please contact Lucy Taylor at Head Office on 01865 759 926 or lucy@scottfraser.co.uk
Zoe Mundy
Executive Assistant - Head Office
01865 760055 / zoe@scottfraser.co.uk
Source: Property Talk Live
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