Rents 'increasing' for buy-to-let landlords
Buy-to-let property investors in the UK are able to raise rents because demand for such accommodation is increasing.
That is the opinion of Chris Horne, editor of Property Hawk, who explained that many Britons are unable to buy in the current economic environment.
He was commenting after LSL Property Services revealed that September saw a 1.2% increase in average rents, following a 1.4% rise the previous month.
This took the typical monthly charge to £669, with the strongest growth of the last quarter having been seen in London.
Mr Horne noted that many landlords are wary of increasing their prices too quickly, focusing on making sure homes are filled.
But he added that improvement has been seen in the last 3 months, stating: "A number of accidental landlords are obviously exiting the market and are being able to sell. That is probably reducing the rental stock, which again is firming up the average rents."
< Back to latest news