Activity In UK Buy-to-Let Property Market
Continues To Increase
Activity in the UK Private Rental Sector (PRS) has reached an historic high, with demand continuing to heavily outstrip the supply of available rental properties, according to the latest National Rental Report by Sequence, owners of Barnard Marcus, Fox & Sons and other well known high street property chains.
The Sequence rental index shows that activity in the UK’s private rental sector hit an 11-year high last month, with strong tenant demand driving up rents to a new monthly average of £751 (GBP).
New tenancies being agreed have increased by 6%, when viewed on a monthly basis, and the figures were actually up 18% when viewed annually.
The strong demand for rental property from would-be tenants is helping to fuel a rise in the cost of average rents, with prices up 2% month-on-month and 6% compared to July last year.
Levels of activity and growth across the UK buy-to-let property market are still not showing any signs of slowing down and demand for rental properties from tenants is increasing faster than the supply of available rental properties are coming to the market, creating the perfect conditions for making property investors some degree of high rental return.
Property investors from all over the world are being attracted to purchase property for the UK rental market because of the incredible tenant demand for somewhere to live. Monthly rental prices are still rising because of this demand, increasing the buy-to-let rental yields that property investors are able to achieve, fuelling the desire from overseas and domestic property investors to become part of the current boom in demand.
Buy-to-let properties are becoming easier to purchase with some mortgage lenders focusing on the rental income that can be generated rather than the employed income earned by the owner
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