We are seeing more and more people who are really excited about the prospects for investment in the rented property market – both existing landlords and those looking to come in to the market.
There’s good reason for them to be positive – prices have fallen significantly over the last 4 years, yet rental demand is up – and mortgages are cheap – although they can be harder to come by.
We’ve just been checking out a report from one of the online lettings agencies, Upad, looking at landlord confidence – which says exactly the same. The figures are also up in September, compared to August.
This is what James Davis, CEO of Upad had to say:
“Falling house prices, attractive mortgage deals, increased demand for rental property in the UK and higher yields has created the perfect environment for UK landlords to thrive. I’m not surprised that over half of landlords surveyed believe now is a good time to invest in property according to a report by Your Move’s parent company, LSL Property Services. Our data further backs up the confident attitude landlords have in the market.”
Of course, each landlord questioned in Upad’s survey had their own reasons for being confident in September 2012. One landlord commented: “The feeling in general is good. The rental market is stable if not growing and interest rates look like they’ll be staying low for quite a while which helps with mortgage repayments.”
Meanwhile, other landlords pointed towards the little or no vacant accommodation available for their increased assurance with one landlord explaining: “I’m more confident in the buy-to-let market this month than last month as early in Sept I had one of my flats on the market (via Upad) and had many interested parties wanting to rent. Also, I usually get an idea about rental demand by visiting two of my local letting agent web sites to see what’s on the market and it seems to me there is very little vacant rental accommodation available at the moment.”
It really is an exciting time to be involved in the property rental market, just now. Of course, especially if you are new, you still need to be careful to make sure you choose the right property.
Discover more about Property Investment Opportunities at our next PIM : 25 October 2012 – 6-9 pm Holiday Inn Bristol
If you want to find out more about property investment, or are looking to expand your contacts or knowledge, then do make sure you come along to our next Property Investment Meeting – PIM – on 27 September 2012 at Holiday Inn Bristol City Centre – we have great speakers, including Jim Haliburton, a specialist in HMOs, as well as a great networking environment and plenty of time to chat to property professionals and get all the latest inside tips!
To your Property Success
Del Brown, Property Options