With average rents rising across the United Kingdom, and rife competition in the mortgage sector creating attractive buy-to-let rates, it is evident that the public rental sector still has plenty of life left in it for both would-be and portfolio landlords.
Recent analysis from HomeLet has shown that average rents across the UK have increased by 3.2% - outstripping the increases in house prices throughout 2019 and showing that there are still strong returns available for savvy landlords. Excluding London, the average rent stands at £784 pcm – with the average rent in the capital city double that at £1,665pcm.
David Alexander, joint managing director of apropos, said: “There is still money to be made in the private rented sector and being a landlord can provide a reasonable income and a healthy pension. But landlords need to be more savvy to make it work and much more pro-active than in the past.”
“You must ensure your finances are arranged as efficiently as possible, that your costs are reduced to the minimum, and that your margins are as good as they can be.”
HomeLet data has shown rents increases across the whole of the United Kingdom, with Wales leading the way;
|
Region
|
Nov-19
|
Nov-18
|
Annual Variation
|
|
Wales
|
£630
|
£599
|
5.2%
|
|
Yorkshire & Humberside
|
£652
|
£623
|
4.7%
|
|
Northern Ireland
|
£667
|
£639
|
4.4%
|
|
Scotland
|
£664
|
£635
|
4.6%
|
|
North East
|
£540
|
£517
|
4.4%
|
|
North West
|
£721
|
£694
|
3.9%
|
|
Greater London
|
£1,648
|
£1,597
|
3.2%
|
|
East Midlands
|
£642
|
£625
|
2.7%
|
|
South East
|
£1,013
|
£989
|
2.4%
|
|
South West
|
£838
|
£819
|
2.3%
|
|
East of England
|
£917
|
£898
|
2.1%
|
|
West Midlands
|
£701
|
£688
|
1.9%
|
|
UK
|
£947
|
£918
|
3.2%
|
So with Greater London showing a 3.2% increase and the positivity in the Prime London Market, following the recent election, now is a good time to invest, in the right buy to let property. For more specific advice and to be offered well-priced opportunities, please email jonathan@greenstone.com
