Bath boasts the highest increase in property prices whilst being ranked the third best area for rental growth
I was at the latest Guild of Professional Estate Agents property conference recently, whom we are a member of, where we were told that the UK rental sector has really grown over the last five years. This is a trend we’re definitely seeing in Bath so buy-to-let investors planning to expand their portfolio in 2017, or those looking to enter the lettings market for the first time, should really consider this area.
Our lettings department, for example, has grown over 300% in the last four years. We are now letting on average twelve apartments a month which is steadily increasing as demand remains strong, particularly from the professional market who seek good quality apartments in prime locations.
Furthermore, Rightmove’s latest Rental Price Tracker claims Bath reported the highest annual growth for asking prices in 2016, up 17.8% to £485,491. Our location was also ranked the third best area for rental growth, with asking rents up 10.5% to £1,148 per month. This is superb news for our clients, most of whom are focusing on the long-term outlook now, rather than just on rental yields.
With our knowledge and experience of the lettings market, combined with such encouraging statistics, I am confident that 2017 will be just as good a year for our landlord clients.
However, there is a lot more to property investment than rental yields and capital growth. You need to also think about mortgages, insurance, tax, stamp duty and how you are going to manage your property.
We are therefore inviting landlords and property owners to our free seminar on the 9th March to talk through key issues that you cannot afford to ignore as you plan for long-term financial success. It is to be held at 6pm at Francis Hotel Bath. Please do call me for more details and I look forward to seeing you there.