The buy-to-let market has seen a 30-fold increase in the ten years that Tony Blair was Prime Minister, according to research from the Council of Mortgage Lenders.
The industry body says just a decade ago the buy-to-let market barely existed in the UK but now accounts for 10% of the residential market. According to the research, there were just 28,700 buy-to-let mortgages at the end of 1996; by the end of 2006, this had jumped to over 850,000. Despite this, the Social Marker Foundation report of 2004 showed the UK had one of the smallest private rented sectors in the developed world, with residential lettings taking a 32% share of the US market and a 48% share in the German market. Gavin Davidson, property director of ThePropertyInvestmentMarket.co...
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