Rents continue to rise despite buy-to-let challenges
Despite recent buy-to-let challenges, the lettings industry has been fighting strong. Peter Greatorex, Managing Director at The Apartment Company, explains how...
According to a new report by ARLA (May 2017), rents have risen to the highest level since July 2016. The supply of rental stock increased by eleven per cent over the last twelve months, whilst the number of landlords selling their buy-to-let properties fell in May.
Meanwhile, the latest RICS Residential Market Survey (May 2017) has noted rental values have increased across the country and tenant demand increased over the first quarter of the year.
This national trend is evident in Bath. Rightmove’s latest Rental Price Tracker (Q1) notes Bath as being the second highest rental growth area outside Greater London. Our first ever landlord seminar in March was a full house. We are seeing increased demand year on year for all sorts of reasons. Being where we are, our apartments are popular with the likes of downsizers, second home owners, local young professionals and buy-to-let investors.
Of particular note, is that our investors seem undeterred by the recent tax and stamp duty surcharge changes. I think everybody expected a cooling in investor activity however it would appear landlords are seeking a professional shoulder to lean on due to the recent changes. In a period of uncertainty, our expertise is invaluable to our clients who require professional advice and reassurance, in order to reduce stress levels and achieve long-term financial success.
Our expert letting and management specialists offer advice on all aspects of Bath’s rental market for experienced and new apartment landlords alike. Do get in touch if we can help you too by visiting our website or giving us a call on 01225 471144.