The report also shows a growing number of people are choosing to rent homes in the UK, rather than buy.
The report, which gives a detailed breakdown of current buy-to-let activity across the UK, refers to a number of areas in which buy-to-let activity is buoyant, including Bristol, Northampton, Leeds, Manchester, York, Newcastle and the suburbs of a number of major cities, such as Birmingham and Nottingham.
“Increasing numbers of would-be first-time buyers are renting property whilst they save for the deposit on their first purchase,” said UCB Home Loans managing director, Charles Reed. “This is partly a result of the rapid rate of house price increases which we have seen over the past five years, but it is also evidence of a gradual shift in perceptions in the UK housing market. Choosing to rent is becoming more acceptable for a wider group of people, particularly those who are young and single. Our level of home ownership in this country is one of the highest in the world, so perhaps we’re now becoming a bit more European in being more relaxed about renting.
