After a difficult period for landlords the tide is really turning. Lettings prices have been increasing across the board, mainly driven by a severe lack of quality stock in all ranges. Prices for the average weekly rent have risen up to 15% over the past six months. Over the same period year on year the available listings have dropped over 25%. Coming out of the global pandemic the sun is really starting to shine for landlords. Our advice at Landstones is to use this advantage to find good quality tenants and lock them in.
Best in class stock remains highest on the priory list for both buyers and tenants, prime central London has always been a haven for investors and people seeking to retain value in property. If you are looking to buy or looking to invest as a landlord you will never go wrong with a top quality asset. You can find best in class in all price’s ranges, from 1 bedroom first floor apartments with outside space up to 5 and 6 bedroom houses on communal gardens. Spend some time looking for what you want, Landstones agents are always here to advise and guide you through the process.
The sales market is still very busy, buyers out number available stock 25 to 1 in many areas. With inflation starting to tick up we may see interest rates follow so it’s a great time to secure a long term mortgage at a very good rate. Rates are still at historic lows and banks and building societies have a wealth of great product out there for all buyers.