18 Dec

Three-quarters of landlords are in profit

Three-quarters of landlords are in profit

More than three quarters of the UK's buy to let landlords are making a profit from their property portfolios, it has been revealed.

According to figures from Alliance & Leicester, 77 per cent of landlords polled said they were making money from their rental activities.

Some 22 per cent said they were even able to put aside some of their rental income as savings.

Meanwhile, Central London was named as the best area for rental yields, with some respondents reporting yields up to four times higher than those of houses in the south-east of the country.

The survey also revealed that despite reports of a downturn in the buy to let sector, seven out of ten landlords are optimistic about their investment for 2008.

Mr Claridge commented: "Our research shows that landlords believe London will produce the highest rental yields in 2008 and remain very popular as investment areas, but it is the north of England and Scotland that are expected to expand most rapidly over the next year in terms of projected net growth."

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