Rental Returns Still On The Increase
According to the latest figures from the Association of Residential Letting Agents (ARLA) the rental returns from properties in the North East have been raising steadily for the last 12 months with yields hitting nearly 6% in August 2012 surprising outstripping London and the South East.
This is just yet another indication that the letting sector of the property market is booming. The rental sector has nearly doubled in size the last 10 years with 2.5 million people privately renting their home in 2002 compared with 4.8million in 2012. On top of this the latest Saville’s predictions would indicate that one in five households will be in private rented accommodation by 2016 requiring a further 1.1 million houses to cope with the increased demand.
This might be therefore the ideal time to consider either buying your first buy to let property or expanding your property portfolio. It may well be easier than you think with lenders being keen to invest in this expanding and profitable area allowing for good rental yields and the prospect of a return to more buoyant house prices allowing for capital growth.
Inevitably there will be questions in many people’s minds as to how becoming a landlord might work, what pitfalls they need to avoid, what is the role of a management or letting agent and how to obtain competitive finance. To help explore these issues George F White are holding a two free seminars to discuss this exciting opportunity:
Thursday 22nd November
Queens Head Hotel, Morpeth
Starting at 6.30pm. Attendance is free but should you wish to come please book your place with Paul Young on 01665 600164.
Northallerton, North Yorkshire
Tuesday 6th November
Romanby Golf & Country Club
Starting at 6.00pm. Attendance is free but should you wish to come please book your place with Lynn Symonds on 01677 458207.
Alternatively give one of our regional property management specialists a call for an informal chat about what opportunities are available.