Some two-thirds of the 5,500 new houses and flats sold in London during the first three quarters of 2009 were purchased as buy-to-let properties, according to property research group MoliorLondon.

This Is London reported that the figures were revealed by Tim Craine at a seminar for people who specialise in the residential development market in the capital.

He commented that overseas buyers have an "important part to play"in this process, as 1,500 of the new residential properties sold between January and September were purchased by international investors.

A further one-third of these dwellings were purchased by UK-based landlords. Many of these houses and flats are based in areas such as Dalston and Docklands - where residents can not afford to purchase property but locals have enough to rent.

Earlier this week, Ian Potter, operations manager for the Association of Residential Letting Agents, asserted that buy-to-let landlords make up a "critical part"of Britain's property market.

Written by Mark GarnerADNFCR-2002-ID-19471461-ADNFCR

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