Is now the time to invest in a rental property?
Rental prices have soared recently and properties are being snapped up as soon as they’re listed.
What’s caused this upturn in prices and demand?
Since 2017 the government began the tapering of mortgage tax relief for landlords, abolished tenant fees and added further legislation to the property industry.
The introduction of Rent Smart Wales, Stamp Duty Charges for second homes, Energy performance certificates, Gas safety certificates, and more recently an Electrical certificate have all added to reasons why landlords have exited the rental market.
The availability of rental properties has decreased and in turn rents have increased.
Since 2015 the number of new landlords purchasing property has decreased on average 1% per year.
The value of the buy to let market has fallen by 1% annually.
In 2015 the average UK rent was £627. Today it's nearer £750.
With low interest rates, rental prices at an all time high and demand outstripping supply.
Could now be the time to buy to let?
If you're thinking of investing, firstly you need to decide what type of property you're going to invest in, and also if you're investing for capital growth or income. Flat in SA1 or a 2 bedroom terrace in Morriston?
If you are thinking of increasing your portfolio or venturing into the buy to let market for the first time, why not take advantage of our our Free property evaluation service where we can discuss your property options and advise you on the latest legal legislation.
For an informal chat please feel free to get in touch.
01792 845855
www.perfect-pads.co.uk
info@perfect-pads.co.uk
COPYRIGHT Perfect Pads 2021