Private landlords and other investors are still putting their money in bricks and mortar because it is seen as a "solid asset", according to a UK-based estate agent.

Nigel Ellis, senior partner at Prickett &Ellis estate agents, suggested that the current marketplace is an ideal one for those who rent out their homes.

Activity remains rife in the buy-to-let sector for a number of reasons, he said, but one of the main factors for its popularity is because first-time buyers continue to have affordability issues.

Explaining the situation as he sees it, Mr Ellis remarked: "If you haven't got a job then you leave London and go back to where you came from and if you have got a job, you are paying good rents and need to find a home in London."

He also claimed that a lot of money is being spent on "nice, little flats in good areas"of the capital.

Recent findings from The Young Index showed that there was an upturn in the number of buy-to-let investors looking to add to their property portfolios at the start of 2009, compared to the final quarter of last year.

Written by Mark Garner

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