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Portfolio Buy-To-Let Landlords Are A Minority

Portfolio Buy-To-Let Landlords Are A Minority

Only 6% Of UK Buy-To-Let Landlords Own More
Than One Rental Property

New data from the latest Countrywide Residential Lettings Index shows that portfolio landlords with multiple rental properties are the minority of the UK’s private rental sector.

According to the research data, the average the size of a UK landlords’ buy-to-let portfolio tends to be small, with only 6% owning more than a single rental unit, however in London this figure reduces to just 4%.

Countrywide also report that 56% of private rented sector landlords own at least 1 rental property within 10 miles of their own residential properties.

When the data is expanded to account for buy-to-let landlords who live within 25 miles of their rental properties, the North East recorded 83%, followed by 81% in the North West and 71% in East Midlands. Landlords who live within 25 miles of their rental properties in London average just 60%.

London has the highest proportion of landlords who live more than 100 miles away from their rental properties, with over 20% of UK PRS landlords doing so, twice the UK average.

Wales and the East of England are more rural than other regions of the UK with less dense population clusters, so many landlords purchase properties in busier areas and choose to live within a commutable distances in order to keep an eye on their rental assets. The proportion of landlords living between 10 and 25 miles away in Wales and the East of England is the largest in the UK.

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UK Rental Market Remains Healthy Despite PRS Rent Falls

UK Rental Market Remains Healthy Despite PRS Rent Falls

UK Rental Market Remains Healthy Despite PRS Rent Falls

Rental price increases in many UK regions have slowed according to the latest data gathered by the latest Buy-To-Let Index conducted by LSL Property Services group.

The data showed that UK PRS rents increased by 1.5% in the 12 months to December 2013, less than half the 3.2% growth observed in 2012 and on the whole, UK PRS rents fell by 1% in December 2013, (around £8), reducing the average private rental sector rent to £745 (GBP) per calendar month.

The largest drop in PRS rental prices was observed in the South East, with rents down 2% since November 2013, rents also fell 1.9% in both London and Wales.

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Average PRS Rents Hit New High

Average PRS Rents Hit New High

Buy-To-Let Property Investors Benefit
From PRS Rent Increases

The average rent in the UK’s private rented sector has increased to approximately £757 (GBP) per month, the highest level ever recorded, as rental prices increase by 1.8% on the previous month.

The data is from the latest Buy-To-Let Index, published by LSL property services.

PRS rents are 2.1% higher than they were in September 2012 and tenant demand is still strong with lettings activity growing by 9.2% over the last 12 months.

Average PRS rents are now £13 (GBP) per month higher than the previous all time record set in October 2012, when monthly PRS rents averaged £744 (GBP) per month.

Nine out of 10 UK regions saw rents rise between August and September 2013 with the fastest monthly rise observed in the South East, where PRS rents are 3.3% higher than they were a month ago.

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Good news for landlords

Good news for landlords

There is a lot of Good News For Landlords Around As PRS rents Increase, Tenancies Last Longer And Demand Remains Strong

Good news for landlords as monthly PRS rents have increased by 1.1% year on year to average £845 (GBP) per calendar month (pcm). Scotland has witnessed the greatest rental price increase at 6.7% compared with the first quarter of 2013.

There has also been an increase in the number of older private rented sector tenants according to the latest quarterly index published by Countrywide lettings agency, who noted a 6% annual growth in the number of tenants over the age of 50 renting property in the UK private rented sector (PRS). The lettings agency also report that there has been a 7% annual decline in the number of tenants aged under 25 in the second quarter of 2013.

Buy-To-Let yields are strengthening across the UK, with the average yields being recorded in 3 regions:

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March 2013 Sees PRS Rents up by 0.5%

UK PRS Rents Increase Again

UK PRS Rents Increase Again

UK private rented sector (PRS) rents increased for the first time in five months in March 2013, led by busy regions such as London, according to LSL Property Services. 

The latest figures reveal that average monthly PRS rents rose by 0.5% in March compared with February to reach an average of £735 (GBP). 

London private sector rents surged to a new average high of £1,106 (GBP) per month, following a 1.3% month-on-month increase.

The study, which has been running for five years, is based on rents achieved on 18,000 UK PRS rental properties, show that average rents in the capital are now £81 (GBP) higher year-on-year.

However, the increase in rents has left a greater number of tenants struggling to keep up.

Tenants’ finances worsened to levels not seen since before Christmas 2012, with 8.5% of all rent late or unpaid in March, compared with 7.4% in February.

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Struggling property prices will add even more gloom to the UK economy with house prices dropping again in July 2011 as many buyers struggled to secure mortgage finance. 

Even worse was the news that UK homeowners were reluctant to put their properties on the market because of the slump in valuations.

 The latest UK Housing Market Survey data published by the Royal Institute of Chartered Surveyors (RICS), revealed that 22% more chartered surveyors reported a fall in house prices. 

The average number of sales over the last three months has fallen to 14.2, the lowest for more than two years. 

A RICS spokesman said: “The UK housing market continued to stall during July; prices edged lower and sales levels remained subdued. While the holiday season appears to have had some impact on the market, the continual problem of inaccessible mortgage finance is still preventing first-time buyers accessing the market. With prices continuing to slip, it appears that many potential vendors are unwilling to accept reduced selling prices, so are reluctant to enter the market.” 

Pessimism still prevails in the UK property market, with house prices predicted to continue to sink. However, there are signs of a possible recovery as demand edged up.

 Interest from potential buyers has been fairly muted since the beginning of the year, but July saw a 5% rise in new enquiries. 

London remains the only UK region to see any house prices rises, with property prices in areas of the West Midlands and the East of England coming off much worse than in recent years.

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