While the past few years have been challenging, there are some causes for optimism in the rental market right now. If you are a landlord in Saffron Walden, and you are looking for support and guidance, we are more than happy to help you.
According to the latest study carried out by Paragon Bank, which spoke to more than 600 landlords, the following findings were made:
69% of landlords have reported an increased level of demand for rental property
36% of landlords stated the increased level of demand for rental property was “significant”
79% of Landlords in the South West of England reported an increase
74% of Landlords in the South East of England (excluding London) reported an increase
59% of Landlords in the North East of England reported an increase in demand for rental property
54% of Landlords and property managers in London reported an increase in demand for rental property
Richard Rowntree, Paragon Bank Managing Director, said: “Landlords have been recording rising levels of tenant demand following the first lockdown, which reflects the shift in housing need created by the virus. The third quarter of the year is usually a busy one for the private rented sector (PRS) with graduates starting new jobs, the beginning of the academic year and people turning to housing once the holiday season is over. With this seasonal demand added to already high levels of tenant demand, we are beginning to see a shortage of property in certain parts of the PRS, which is leading to rental inflation. The sector needs to expand to meet these exceptional levels of tenant needs. Recognising this, lenders can assist investors with products and service that supports them in responding to the needs of a diverse and growing mix of tenants.”
We can help you achieve an attractive rental yield
Research undertaken by Sequre Property Investment, suggests the average rental yield in Great Britain remains at 4.2%.
Regional variations include:
The North West experiences a rental yield of 5.4%
Scotland has an expected rental yield of 5.1%
Yorkshire and the Humber has an expected rental yield of 4.8%
The North East has an expected rental yield of 4.8%
The expected rental yield in Wales is 4.7%
The West Midlands offers an expected rental yield of 4.3%
London has an expected rental yield of 4.3%
Daniel Jackson, Sales Director at Sequre Property Investment, commented: “The property industry has shown impressive resilience throughout the pandemic, but even the most optimistic of landlords were probably expecting profitability to take a dive during such uncertain times. Yet yields have refused to show any notable levels of decline and the buy-to-let sector remains a very strong investment option at present. The reason is that, even though house prices have gone up by an average of 10%, rent values have gone up by more still, 11%, to negate any negative hit on yields.”
Daniel Jackson concluded by saying; “One thing is for sure, Northern Britain remains the best, most rewarding place for buy-to-let landlords and investors to build their portfolios and not even a global pandemic can do anything to change that.”
Of course, while average rental yields provide a good benchmark, you should be looking to improve on these figures. With our support and service, we are more than equipped to help you connect with tenants, offering the highest standard of service to your tenants. This will go a long way to helping you improve the return you receive from your rental market activities.
For all lettings enquiries in Saffron Walden, please feel free to call us on 01799 513224 or why not email us at firstname.lastname@example.org. With considerable experience in the local letting market, and free valuation services, we look forward to helping you make an informed decision in the Saffron Walden rental sector.