Predictions have started for let property in 2012

January 25, 2012

CIA Let Property Blog

Paragon Group

 

Predictions are now being made for the let property market in 2012, after 2011 being a big year for let property owners are expecting tenant demand to keep rising in the new year.

The Paragon Group have researched and found that 2012 may be another fantastic year for landlords and let property. Over half of landlords researched expected the market to grow this year, a small 6 % predicted a decline in the market.

Expectations have certainly changed from when research was done a year ago at the beginning of 2011. Only 45 % of landlords had predicted a boom in the let property market. Even less landlords predicted a decline as 2 % of them expected this.

With the economy in a bad place at the moment, one in five landlords have predicted a rise in rental arrears because of job losses and pay cuts/freezes. The other two thirds of landlords researched predicted a stable 2012 with rental arrears. It is always wise to look into protecting your property with landlord insurance as with last year the economy will be unpredictable!

The chief executive of Paragon Group, Nigel Terrington has said :

“With the success of 20122 to build on, i believe the private rented sector will continue to perform and provide a valuable tenure choice for even more people in 2012.”*

 

*Quote source – Simple

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