Buy to let booming in North of England

With endless doom and gloom stories about the property market, finally there is some positive news - and this time it's from outside London.

Manchester agent Philip James has been monitoring the local market and has witnessed one of the greatest property bounce backs in recent history; the return of the buy-to-let landlord.

In the first quarter of 2011 rental figures have increased by nearly 8% as a flood of landlords return to the northern property market.

The mini-boom has been boosted by low interest rates, restricted borrowing and the lack of first-time buyers.

Property is now very affordable in Manchester, but only for those with money behind them or a decent deposit.

And for the north of England, that means landlords, both professional and amateur.

Philip James owner Philip Nolan said: "Landlords are having a field day in the north of England.

"In the first quarter of 2011 one of our Manchester branches witnessed two-thirds of its entire rental property stock rise sharply in value without a single property dropping.

"This is a record for Manchester and we expect the trend to continue throughout 2011 and into 2012."

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