Could Now Be A Great Time To Start As A Landlord?
Some interesting reading from the recent Rightmove house price index for October shows that although average asking prices for the East Midlands saw a month on month increase of 1.2%, one specific property type actually saw a month on month price fall of 1%…
This was recorded for properties with 2 bedrooms or fewer.
The report goes on to suggest that this is great news for first time buyers who are the traditional purchasers for such properties and furthermore the report concludes that the price fall is in part a result of less buy to let investor activity.
This got us here at Hannells thinking. Whilst it is certainly an opportunity for first time buyers to get a foot on the ladder, it might also provide a great opportunity for anyone thinking of becoming a landlord.
Looking at average rental figures, rents have increased by 2.7 % annually across the East Midlands, with a second quarter average of £623 PCM and a home.co.uk report suggests the average rent for a 2 bedroom home in Derby stands at £531 PCM.
With this in mind now might be great time to take advantage of falling purchase prices and rising rents!
Our Lettings team are always looking for suitable properties for their list of waiting tenants so why not give them a call and find out all you need to know about becoming a landlord? It might be easier than you think!
They can be on hand to guide you through every aspect from the legal responsibilities and financial implications, to finding you an ideal tenant and managing your property for as long as you need.
Contact our expert Lettings team today on 01332 294396 , email email@example.com or just click HEREto book an online valuation in seconds.
And if we have whet your appetite for buy to let, why not check out some of the properties we have available to view now using the search bar at the top of this page!
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