Buy to Let Research

A research study of one thousand people found that 10% of them owned a second property in the UK.

14% of people would consider buying a second UK property and it was noted that most people thought the prospect of good letting opportunities was a key factor. 66% admitted that the lack of money was the reason for them not having a second property.

Growth in the area was an important point to many when choosing a property it was found. 32% felt that being near to shops and entertainments was important whereas 18% said they wanted a second property in a beauty spot and 19% wanted somewhere on the coast. Those living in the North East wanted property in a peaceful location.

22% thought that being near relatives would be a key factor and those living in the North West were more likely to own a second home for personal use.

Those living in London would buy a second property to rent out. Purchases of second homes are considered to be an important source of house demand and have helped push up property prices but current market problems may have some impact on the buy to let market, the report stated.

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