Rental growth slowed in February compared to the previous month according to Countrywide
The latest Countrywide plc Monthly Lettings Index report – February 2018 published 12th March 2018 headlined “Average landlord who sold in 2017 gained £86,651”
The report reveals: The average landlord who sold their rental property in 2017 did so for £86,651 more than they paid for it, having owned the home for an average of 8.7 years.
Rental growth slowed to 2.1% in February down from 2.4% in January, but was supported by increasing rents in London, according to Countrywide.
Commenting Johnny Morris, Research Director at Countrywide, said:
“House price growth has driven investor gains. Landlords selling in 2017 owned their homes for nearly nine years. In 8 of those last 9 years house prices have risen. Even in areas where price growth has lagged behind most landlords have made a profit from rising prices.
“Rents continued to grow in January. London continues to see the greatest falls in the stock of available homes to rent, on the back of reduced investor activity, this scarcity of supply is driving rental growth.”
Read the latest Countrywide plc Monthly Lettings Index report – February 2018 in full click here.
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