Buy-to-let looking good as rents rise

by Christopher Evans

The buy-to-let sector is benefitting from rents rising at a "rapid pace" during the three months to the end of January, new figures from the Royal Institution for Chartered Surveyors (Rics) suggest.

Falling supply of rental properties and strong tenant demand has pushed prices upwards, the Rics Residential Lettings Survey reveals.

Forty per cent more chartered surveyors are seeing tenancy agreements with higher rents over the three-month period – the highest positive reading in the survey's history.

Gross rental yields have also risen sharply, the survey says, which is the fourth consecutive increase.

Rics also reports that 32 per cent more surveyors have seen a rise rather than a fall in demand from people wanting to rent a buy-to-let property.

"The current buoyant state of the rental market is likely to persist for some time to come, given the challenges facing the sales market," commented Rics spokesperson Jeremy Leaf.

Indeed, figures from the Land Registry reveal that house prices have increased slightly, meaning more people could be looking for a tenancy agreement template.


Published on: March 3, 2011

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