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Olympics help boost BTL market

The buy-to-let sector has experienced a healthy start to 2006, according to UCB Home Loans.

It says growth has been experienced in London, partly due to the 2012 Olympics, an area that had previously been in decline.

UCB adds that the previous 4 per cent nationwide decline in BTL transactions in the first half of 2005 has been reversed with a 40 per cent increase during the second half of last year.

UCB managing director Keith Astill says: “The situation has dramatically turned about — after a year when it looked as though interest in the market had peaked, we are now in the middle of a year of rapid expansion. This momentum has carried over into 2006, with rising rents and increasing numbers of tenants making the market attractive to landlords.

“The Olympics have helped to stimulate interest in London’s buy-to-let market, although some of the initial boost following the winning of the bid has now calmed down.”

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