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Buy-to-let buoyant, says Paragon

Data from Paragon Mortgages buy-to-let index shows rental yields remain stable as landlords continue to invest in additional properties.

In the first half of 2006, Paragon says the private rented sector performed strongly, with renewed demand for rented homes from immigrants and other types of tenant, leading investors to grow their portfolios.

Average yields achieved by landlords remained steady at 6.04 per cent, despite a slight seasonal slowdown this month in property prices, which eased marginally between June and July 2006 down from 172,772 to 171,996.

Paragon managing director John Heron says: The first half of 2006 has proved a particularly buoyant time for residential property investors, who have grown their portfolios strongly on the back of an upsurge in tenant demand, particularly from inward migrants.

Recent official figures show that 600,000 migrants from EU Accession States have come to this country since the enlargement of the EU, and the majority of these look to the private rented sector for their accommodation needs.

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