Is the market for property letting on the upswing again?

Posted under General by Alan

Buy-to-let mortgages previously used to be very tough to obtain. This is no more the case! Competitive lenders, especially those who work with buy-to-let mortgage brokers, realise that the market for commercial and residential property letting is on the upswing again. Indeed, now is the time to build your property investment portfolio.

Echoing the market sentiments, ARLA Operations Manager Ian Potter stated, “Undoubtedly, buy-to-let landlords are very much aware of the opportunities, but (it is understandable) they act with caution. In fact, caution has been the watchword in the buy-to-let market since its inception. It remains the sustainable option for housing.”

According to the latest quarterly ARLA survey figures released in March, average rents in the private rented sector have increased by roughly 4 per cent for houses and 2 per cent for flats. These averages have been largely boosted by a 9 per cent increase in Prime Central London plus a 5 per cent increase away from the South East. Rents fell slightly, by 2 per cent for houses and 5 per cent for flats In the South East itself. The improvement in rents received comprises a rise of over £1,500 for renting a flat in Prime Central London and £3,000 a year for renting a house. Rents have increased in the rest of the country too, to £981 from an average of £931 for houses and to £664 £619 for flats.

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