Q2 Rental Property Report - Good News for Landlords & Buy-to-Let Investors
The latest report from property portal findaproperty.com shows a positive outlook for rental property landlords and buy-to-let investors. The quarterly report for the months of April, May and June 2010 points to a fall in supply of rental property and an associated rise in rental prices.
Key findings of the report are as follows:
- Nationally, asking rents rose from an average of £830 in March to £839 in June 2010.
- Average rents are now 1.9% higher than at this time last year
- Rental property stock levels have fallen, with the number of available properties at 2.7% lower in June than in March 2010
- Nationally, average rental yields have increased from 4.53% in March to 4.57% in June 2010
While on a national level, rising tenant demand combining with falling stock levels is resulting in greater equilibrium between supply and price, on a local level, the Cambridge property rental market continues to experience stronger than average demand. Landlords with property to rent in Cambridge, or those investors looking to purchase buy to let property in the city of surrounding areas, should feel a sense of optimism while the city continues to attract more and more inhabitants and while pressure for good quality accommodation in the city remains high.
Property letting agents Martin & Co in Cambridge are experiencing one of their busiest summers ever, with the number of tenants enquiries and viewings at record levels, with demand far outstripping supply of rental property month on month. If you have a property to rent in Cambridge or would like advice on suitable buy-to-let opportunities, do not hesitate to get in touch on 01223 275 150 or cambridge@martinco.com
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