LawFuel – UK Law & Business – Over half (58 percent) of the UK’s landlords are feeling more confident about the buy-to-let market in December 2009, than they did last month, according to the latest poll from Upad.co.uk.
Comments made by those respondents feeling more confident included:
• The market at the lower end is buoyant, but the high end is very slow to let.
• Where I am (the North West), the rental market seems to be holding up fine.
For the 42 percent who are feeling less confident, statements included:
• This recession began in Autumn 2007, and it isn’t going to end next year…
• I am less confident purely because I have two empty premises on my hands at the moment.
• There is too much red tape being invented to protect tenants and no protection for landlords.
Commenting on Upad’s Rental Confidence Index findings, James Davis, company founder and CEO, said: “It’s positive to see that landlords are – for the main part – feeling more confident about the buy-to-let market.
“2009 was a challenging year for the private rental sector – mortgages became scarce, and the shortfalls of amateur landlords were exposed.
“This is our first Rental Confidence Index, and we intend to run them on a monthly basis – polling more than 10,000 landlords. Through them, we can gauge an overview of market optimism. And, I firmly believe that confidence levels will continue to increase throughout 2010.”
Upad.co.uk launched in October 2008, enabling landlords to advertise each property for a one-off cost of £59. The service then became available to the 1.5 million landlords across the UK in May 2009.
Notes to editors
Upad.co.uk (http://www.upad.co.uk) is the UK’s largest online lettings agent, with more than 250,000 rental properties.
The site provides landlords with the largest online property distribution platform, ensuring extensive exposure for their properties. And, it maximises tenant leads for landlords, minimising unnecessary void periods by offering a comprehensive tenant-find service. Landlords pay a one-off fee of £59 per listing.
Upad.co.uk is free for renters to use, and helps them find their ideal property quickly and easily. It enables online searches that are interactive and intuitive, to produce relevant properties.
Launched in October 2008 under the banner ‘reinventing renting’, the company’s innovative approach is aimed at filling a gap in the property rental market.
Read the Upad.co.uk blog at http://www.upad.co.uk/blog/, or follow upad on Twitter at http://twitter.com/jamesATupad, and the Upad.co.uk Rental Surgery on Facebook at http://www.facebook.com/pages/UPAD/16196042214?ref=share.
In September 2009, Upad.co.uk was shortlisted in the UK 2009 Tech Media Invest Top 100 list http://www.guardian.co.uk/tech-media-invest-100/top-100.