Market brings opportunities for landlords
Thursday, September 25, 2008
Falling house prices, rising tenant demand, the slow sales market and the new stamp duty holiday have created a market that affords many opportunities for landlords, according to Leaders, one of the UK's largest independently owned letting specialists.
"Demand for rented property is currently at an all time high, and house prices are lower than they have been for some time," says Leader's Managing Director Paul Weller.
"So, anyone considering investing in a property to rent out, or increasing their letting portfolio, could benefit significantly from the current market conditions," added Mr Weller.
"There are some excellent opportunities around now for those in a position to buy, and of course any purchases under £175,000 will benefit from the stamp duty holiday that is now in place.
"Most one and two bedroom flats will fall into this category, and these are still very much in demand among people looking for rented accommodation," he added.
Many applicants are choosing to rent as they are unable to secure a mortgage in the current economic climate; some are renting while they wait for house prices to stabilise; and a large number prefer to rent as it offers the flexibility and convenience they require for their work and lifestyle.
Whilst there are many opportunities around - both for a favourable purchase price and a good rental income - landlords should still take care before buying to let.
They should always seek detailed advice from an independent specialist on exactly what property types and locations are most in demand in order to make sure they choose the right property for their investment.
Mr Weller says, "Rental demand varies from town to town and even from road to road. You need a local letting expert who knows exactly what is happening in your market to advise you when considering buying a property to let.
"Letting can be a minefield when you consider the knowledge required and the legislation involved with doing it properly, however it is actually very simple when you have the help of a professional letting specialist.
"The right property in the right place will let very quickly; and if you can buy it at the right price you are well on your way to a successful investment," Mr Weller added.
Thursday, September 25, 2008
Falling house prices, rising tenant demand, the slow sales market and the new stamp duty holiday have created a market that affords many opportunities for landlords, according to Leaders, one of the UK's largest independently owned letting specialists.
"Demand for rented property is currently at an all time high, and house prices are lower than they have been for some time," says Leader's Managing Director Paul Weller.
"So, anyone considering investing in a property to rent out, or increasing their letting portfolio, could benefit significantly from the current market conditions," added Mr Weller.
"There are some excellent opportunities around now for those in a position to buy, and of course any purchases under £175,000 will benefit from the stamp duty holiday that is now in place.
"Most one and two bedroom flats will fall into this category, and these are still very much in demand among people looking for rented accommodation," he added.
Many applicants are choosing to rent as they are unable to secure a mortgage in the current economic climate; some are renting while they wait for house prices to stabilise; and a large number prefer to rent as it offers the flexibility and convenience they require for their work and lifestyle.
Whilst there are many opportunities around - both for a favourable purchase price and a good rental income - landlords should still take care before buying to let.
They should always seek detailed advice from an independent specialist on exactly what property types and locations are most in demand in order to make sure they choose the right property for their investment.
Mr Weller says, "Rental demand varies from town to town and even from road to road. You need a local letting expert who knows exactly what is happening in your market to advise you when considering buying a property to let.
"Letting can be a minefield when you consider the knowledge required and the legislation involved with doing it properly, however it is actually very simple when you have the help of a professional letting specialist.
"The right property in the right place will let very quickly; and if you can buy it at the right price you are well on your way to a successful investment," Mr Weller added.
posted by tony at 10:33 PM
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