If you are a landlord you may find it interesting to read The Kent Reliance Buy to Let Britain report – Edition Five. It covers a number of key things that are happening in the buy-to-let mortgage market and private rented sector some of which we highlight below.
It is interesting to read that, of 900 landlords that took part in a survey in Q3 of 2016, it found that 54% of those landlords felt positive about their investment property portfolios. This was a considerable improvement on their feelings in the second quarter of this year when only 39% felt positive.
It is also interesting to read that 23% of those landlords were intending to buy more investment properties to let out to tenants in the next 12 months. If this happens it will be welcomed by many including the Government and prospective tenants looking for properties to rent out. One of the reasons for this is because there is believed to be a shortage of residential properties available in the UK for people to live in.
A high percentage of landlords are concerned about intervention by the Government in the lettings market. In the third quarter of 2016, 76% of landlords expressed concern whereas in the first quarter of 2016 this figure stood at 73%. So, as you can see, more landlords are concerned in this respect.
At the present time, there are 5.3 million homes in the private rented sector with this equating to 19.8% of all residential properties in the UK. This is an increase of 300,000 homes in the space of 12 months. However, it is forecast that the rate of growth in this sector has eased to 5.4% whereas in the first quarter of 2016 the rate of growth was 5.5%.
In September 2016, the average amount charged for rent in Great Britain was £881 per month and that was a record. However, the percentage amount that rents rose by, which was 3.5% per annum at the beginning of 2016, has eased to 2.4% per annum.
You may also find it of interest to read that, over the next 6 months, 33% of landlords intend to raise the amount that they charge their tenants in rent by an average of 5.4%.
So, if you are a landlord, why not take a look at the above report where there is a lot more interesting information.