Lettingsearch.co.uk rates Margate landlords' prospects as 'excellent'
Published: 16:22, 01 February 2010
Updated: 12:46, 15 August 2023
An "acute shortage" of family properties to buy in Margate has had a positive impact on the local lettings market, according to a leading property website.
Kent-based lettingsearch.co.uk described the prospects for landlords as "excellent", citing a shortage of second hand homes to buy and the cautious attitude of homebuyers uncertain of house prices and mortgage availability.
The website, which lists more than 260,000 properties, saw a 20 per cent increase in rental inquiries in January compared to the same month in 2009.
Phil Calderbank, director of lettingsearch.co.uk, said: "Margate could become fashionable again, not as a holiday destination for Londoners as it once was but as a second home retreat or a live/work enclave.
"The forthcoming Turner Contemporary won't shake off Margate's past in one swoop but it will take it in the right direction."
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