How big is the UK buy-to-let market?
According to the Council of Mortgage Lenders, buy-to-let currently accounts for 12% of outstanding mortgage balances. The total number of buy-to-let mortgages currently outstanding is over 1.29 million, worth approximately £150 billion. The catalyst for buy-to-let’s growth was the introduction of the Housing Act in 1988, which boosted landlords’ confidence in the sector by assuring their absolute right of possession. However, over the past decade, buy-to-let’s growth has been driven by increasing tenant demand, caused by a rising population, a shortage of new build houses and significant social changes. What are the future prospects for buy-to-let? Predicting the future of the property market is notoriously difficult, but there are several strong factors supporting the growth of the buy-to-let sector. The UK is experiencing major social changes that have contributed towards strong tenant demand. Growing immigration levels, a rising student population, people deferring house purchase un
