Gary Everett is the proprietor and managing director of Martin & Co Colchester and Ipswich. He recently appeared on local radio to speak about housing supply and landlord rents.
When asked about homeownership he said:
"East Anglia, like most UK regions, needs more homes to help first-time buyers to get on the housing market. The various government initiatives have helped, and it would be good to find new ways of helping younger people own their own homes.
"However, there are equally a large number of people in the region who just want to be mobile. They'll find it easier to move when they get offered different jobs, or maybe their personal circumstances may change.
"For that reason renting remains a good option because it allows for flexibility and also saves tenants money on the upkeep of a property - a common cost often ignored when it comes to buying a property."
Gary was then asked to discuss the rental market in further detail, specifically about rental rates.
"Rental levels aren't plucked out of thin air, they rely on the market and demand. Because demand is so high, rents are higher. Nevertheless, landlords also know they need to offer competitive rents to ensure their properties attract good, responsible tenants.
"Recent tax changes means those landlords, many of whom are small-scale investors, are finding it increasingly difficult to make a decent return on their investment. Without a worthwhile income, landlords will question their investment.
"We shouldn't underestimate the importance of landlords. They provide a valuable source of housing in the private rented sector and they need to be encouraged to stay in the sector."
To discuss the local sales and lettings market in your area, please call the Colchester office on 01206 760 950 or the Ipswich office on 01473 289 794, or email firstname.lastname@example.org or email@example.com