The buy-to-let sector is flourishing, according to the organisers of the Landlord & Buy-to-Let Show. The free to attend show hosted in Manchester on the 13th-14th June reports a 25 per cent growth and has expanded to two days to accommodate extra visitors this year.
Business is booming for the Macclesfield based event organisers, Accession Exhibitions and Publishing Ltd. The company’s turnover has quadrupled in 2007/8 with the launch of shows in Manchester, Birmingham, Glasgow and London.
Accession’s Managing Director, Oliver Romain, believes that success of the show is an indication of a robust and expanding buy-to-let industry. “The buy-to-let sector has never been as large and active as it is now, the sector has grown ten-fold in the last eight years and it is still expanding.”
“In the past investors needed big money and a friendly bank manager to become a landlord. In the last few years the emergence of buy-to-let mortgages has bought property investment within reach of most homeowners,” commented Romain.
Romain believes that credit crunch woes are unlikely to dampen the positives: “Lenders are now more cautious and some players have withdrawn from the buy-to-let market altogether. Landlords will need to find larger deposits; however, it is unlikely we will return to the past where property investment was out of reach for most.”
According to the Council of Mortgage Lenders (CML), 2007 was a record year for buy-to-let with 346,000 buy-to-let mortgage advances totalling £44 billion. The latest CML figures indicate that the market is still growing with £9.8 billion of advances in the first quarter of 2008 the same level of growth as in 2007.
“Landlords are long-term investors, consequently most of the recent expansion will stick, and even if growth is likely to slow it will remain a huge market. What is more, landlords needs to shop around for great services and advice; that’s where the Landlord & Buy-to-Let Show comes in.”
The Landlord & Buy-to-Let Show provides help and advice to both experienced property investors and people starting out in buy-to-let. A highlight of the Manchester show is a presentation from BBC presenter and home style guru Sarah Walker, star of ‘To buy or Not to Buy’.
The Landlord & Buy-to-Let Show is at New Century House, next to the CIS Building in Manchester on Friday and Saturday 13-14th June 2008. Entrance and seminars are free. For more information visit www.landlordshow.co.uk or call 0800 321 3028.