Date Published 02 November 2009
The national rental market is looking much more healthy than it did six months ago. The clear out of stock is continuing in fairly dramatic fashion as the sales market improves and a seasonal surge in demand helps mop up excess supply, particularly at the lower end of the market.
"Consequently, rents are on a clear upward trend and long term buy-to-let landlords in London and the South East in particular have reason to feel optimistic that the market is making a sustained recovery."
• The stock of rental properties on the market dropped sharply in October (-10.2%) - the most significant monthly fall in the history of the index - bringing supply back to the level last seen almost a year ago.
• Rents rose marginally (+0.1%) to £830 pcm in October - the sixth consecutive month of stable or rising prices - remaining 3.8% lower than a year ago.
• Gross yields dip from 4.56% in October as rising house prices put pressure on rental returns
• London and the South East lead the rental market recovery while the majority of regions suffer falling rental values
If you are considering buying a property to rent out or you are already a Landlord and you need some free professional advice then please feel free to contact either of the Able Offices.