4 Nov

Buy to let market 'to take advantage of declining homeownership'

Buy to let market 'to take advantage of declining homeownership'

People with buy to let properties could be set to take advantage of the current housing market after it was said that homeownership is on the decline.

The Council of Mortgage Lenders (CML) has stated that "since 2003, we have seen the first significant decline in homeownership".

It added that it expects people in their 40s, 50s and 60s to receive the benefits of owning properties in the coming years, as opposed to younger generations.

The CML has called for help from the government to fill this gap and create opportunities for younger buyers to get on the property ladder.

However, this rate of decline of homeownership will come as good news to landlords, as they will be able to take advantage of the growing rental sector.

This is compounded by recent figures from the Department for Communities and Local Government, which revealed in the English Housing Survey Household Report 2008-09 last week that there has been an increase in demand from tenants since 2003. ADNFCR-1222-ID-800217933-ADNFCR

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