Improved environment for buy to let landlords
Some good news at last for landlords, according to data released by Countrywide, one of the largest letting agencies in the UK with1,300 offices nationwide.
They advise that in the first quarter of this year, it is taking, on average, 13 days to let a property whereas in the corresponding quarter of 2010, it took, on average 17 days.
In addition, there has been a 51% increase in demand for property from tenants at the start of this year start compared to 46% at the beginning of last year.
The data also suggests a general shortfall in available rented property, with an average five tenants competing for each property, especially in London, where house prices and mortgage unavailability are undoubtedly fuelling the rental market.
Al in all, good news for buy-to-let investors in terms of income steam, especially with interest rates remaining at historic lows. The position on capital values and appreciation is another matter entirely however.
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