Rents start to climb
The lettings market has been booming since the beginning of this year with far more people looking to rent property than there are properties available. At the beginning of this year we were averaging over 100 properties to let at any one time and this has steadily fallen to just over half this level. Although there has been quite a number of new properties coming onto the market to let this has not been matched by the high demand for people looking to rent. The difficulty in obtaining a mortgage if you are a first time buyer is one of the major contributors towards this.
The end result of this is that rents are starting to climb which has not been the case for several years and now is a very good time to invest in property to let.
At the same time there are more and better mortgage products available for the investing landlord who wants to buy property to let funding out of a mortgage.
In the last few weeks we have seen a significant increase in the number of investors looking to buy property.
If you are thinking of letting a property now is very much the time to do it with very good demand and an increase in rents. It is very important however equally that you afford professional letting agents, here at Robert Oulsnam & Company we are well aware of the many pitfalls and legal problems that can be encountered in letting property and we therefore ensure that all our clients receive the highest standard of service in letting their home.
If you are thinking of letting, please call our Lettings Department on 0121 445 7410.