Why Should You Get Into Property?
If you are looking for proof as to why now is the perfect time to invest in property, examining current rental values can give you the helping hand you are looking for…
In the last quarter alone, rents on average have risen by 2.3% to an impressive £839 per month – £19 higher than they were during the first quarter of this year.
But, what about supplies?
Now I have to admit that property sales have fallen considerably since property investors flooded onto the property market trying to sell their properties before the Emergency Budget. But the fact still remains that rents have continued to rise despite these new supplies – proof that property owners prefer to rent.
Across the whole of the UK property market, rents have risen year on year by 1.9% whilst specific regions such as Yorkshire and Humberside, and London have risen by a minimum of 2.6%.
Take London for instance. Average rents now rest at £1,729 a month – £44 more per month than at the beginning of this year, and will probably continue to rise unless mortgage lenders make their deals more accessible and affordable.
So far, lenders only appear to be offering longer loans i.e. 7 years+, but what are really needed are smaller deposits.
But until then, I say lets take advantage of this demand – what do you think?
Wendy xx
