The buy-to-let market has bounced back in the North, agents are reporting.
Manchester agent Philip James said rental figures in Manchester increased by nearly 8% in the first quarter of this year and said a ‘flood’ of landlords has returned to the northern property market.
Phil Nolan, of Philip James, said: “Landlords are having a field day in the north of England.
“In the first quarter of 2011, one of our Manchester branches witnessed rents in two-thirds of its entire rental property stock rise sharply without a single rent dropping.
“This is a record for Manchester and we expect the trend to continue throughout 2011 and into 2012.”
The recovery follows a grim few years following the housing market crash which particularly affected investors in over-hyped city living apartments in Leeds and Manchester.
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