UK Buy to Let Boom continues despite falling affordability
The latest news on the UK buy to let sceneshows that landlords are still confident and planning to expand their portfolios, but does indicate cracks beginning to appear in the central London rental market.
The latest London property barometer by estate agent Douglas and Gordon shows a slight drop in London rents in June as demand and supply start coming more in-line with each other. This is more as a result of falling demand than rising supply as more and more people are forced out of central London as rising rents push beyond their means.
That is those with the sense to realise that rents are above their means. According to a new report by charity Shelter around one in six people in the UK (16.5 per cent) is spending more than 40 per cent of their income on housing costs such as rent or mortgage payments and other household bills.
According to Shelter this makes UK families some of the worst off in Europe when it comes to the cost of running a home.
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