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Residential Investors Pour Money Into Falling Market

LONDON-The latest RICS residential lettings survey for Britain for the three months to October 2001 shows that investors are turning from stocks and shares to bricks and mortar despite falling rental and capital values.

By Charlie Jacoby | Updated on November 29, 2001

LONDON-They’re swapping bonds for bricks. Stock market volatility and international turmoil have led to an increasing number of investors turning to the buy-to-let market as a long-term investment, says the Royal Institution of Chartered Surveyors in its latest lettings market survey.

The survey shows that new instructions to let have risen steadily, reflecting a sharp rise in investment properties coming on to the market this year. The difference between chartered surveyors reporting a rise in instructions against those reporting a fall was 46%, up substantially from the 4% recorded in January of this year.

At the same time demand for properties from new tenants rose, with 21% more surveyors reporting an increase in demand over those reporting a fall in demand. Private lets were 78% of the market, up from 72% a year ago. Social lets stood at 5%, down from 6%; student lets were 4%, down from 5%. Flats have proven more popular than houses this quarter.

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