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The UK’s Buy-To-Let property market is booming – and there is no sign of this slowing down. More and more people are becoming reliant on the Private Rented Sector (PRS), especially as houses prices continue to reach record highs and continued growth.
At present, more than 5.7 million households are rented and this is expected to reach 7.2 million by 2025 – a 38.46% increase! The Private Rented Sector in the UK is valued at over £1.29 TRILLION – this represents more than the total value of mortgaged owner occupier properties in the UK for the first time.
Whilst the term ‘Brexit’ can lead to many a controversial conversation, and predictions for a Leave vote stated an immediate impact on Britain’s economy and consumer confidence – this has not been the case for the UK’s property market. The EU Referendum outcome, and the summer of 2016 has seen 8% year on year house price growth. The weakened exchange rates post referendum have made UK property very appealing to international investors and it remains strong for UK investors with clear trends showing support of such significant growth in the PRS sector.