The PRS sector could still be seen as an attractive opportunity for investors says Your Move
The latest Your Move Buy-to-Let Index July 2017 data, August 2017 report headlines ‘Bottleneck of housing supply sees rents rise in July’.
Average rents increased in most areas of England and Wales this month, with a fall in housing stock causing prices to rise.
Shrinking property supply pushes up rent levels, average rent across England and Wales is now £874.
Richard Waind, Director, Your Move, comments: “We are now starting to see the real impact of the government’s Stamp Duty revision, plus the additional tax changes which have hit landlords hard. The outcome has been a decline in the number of rental properties on the market and this has had the effect of pushing up prices for tenants. Tenants in London face a different issue as rapidly rising travel costs are increasing the overall cost of living in the suburbs, despite rents generally being cheaper than central areas.
“The Private Rental Sector, however, could still be seen as an attractive opportunity for investors, with the North East and North West in particular seeing strong growth. Although buy to let investors are preparing for the new PRA changes coming into effect in September, it’s clear that there are still people who believe that, property remains a viable investment option.”
Read the latest Your Move Buy-to-Let in full click here.
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