Buy-let property represents the best form of investment in the eyes of many new landlords, a survey has found.
The majority of first-time buy-let investors (75 per cent) questioned by Mortgage Trust said they chose to invest in property because they thought it would generate “better returns”.
For another 30 per cent, freedom and direct control of the investment were a key factor in deciding to make a purchase.
According to John Heron, managing director of Mortgage Trust, landlords are “confident in the returns achievable” on a property investment.
“People have more faith in the value of bricks and mortar than ever before, and in addition, short term returns are on the up, with demographic factors fuelling tenant demand and rental incomes,” he added.
Meanwhile, Nationwide Building Society today released the latest version of its national house price index.
It shows that the average price of a house in the UK is now more than £175,000.
© Adfero Ltd