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TODAY'S OTHER NEWS

Stock market volatility fuels buy-to-let boom

Half of UK homeowners are now interested in becoming a buy-to-let landlord as returns on rival investments plummet.

Stock market volatility is fuelling demand as investors seek higher returns, with 30% more likely to invest in property as a result, according to new research by Bank of Ireland UK.

Almost 70% of British homeowners believe buy-to-let will outperform other forms of investment over the long-term, including cash, shares and government bonds.

Three-quarters of existing landlords say new changes to tax relief will make no difference to their investment attitude

The Bank of Ireland UK’s latest quarterly buy-to-let index revealed an optimistic view of the market at 61.4, where scores in excess of 50 indicate a positive outlook.

Almost half of respondents say they would be interested in becoming a buy-to-let landlord in the next two years if they could afford it.

Londoners were the most property-hungry for the sixth survey in a row, with more than 66% saying that they would be interested in becoming an amateur landlord.

The lowest levels of interest were in Scotland and the North.

Despite the Chancellor’s announcement that he is to cut tax relief for landlords, 73% landlords say this will not affect their attitude.

Mark Howell, director of marketing & customer management, Bank of Ireland UK Mortgages said: “Confidence in the buy-to-let market remains robust, despite news stories in the press which might have suggested otherwise.

“It is a sign of the current economic climate that many are seeing this as a prime investment.”

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