Landlords 'see increase in rents'
Published: 01-May-2008
This article was brought to you by Rentman the premium property management system
The UK's buy-to-let market remained strong in the first quarter of 2008, with rentals continuing to rise as a result of increased demand.
That is according to Paragon's latest Buy-to-Let Index, published today (Thursday, May 1st), which revealed that over the past six months there has been a 12 per cent increase in average rents.
In the past quarter average rents climbed by four per cent, while currently more than £1,000 is generated by a typical rental property every month.
It was also revealed that annual rents stood at £12,041 in March 2008, up from £11,886 in the previous month, while yields have remained stable at 6.3 per cent.
John Heron, Paragon's director of mortgages, commented: "The backdrop for buy-to-let remains positive across the country - potential residential purchasers are reluctant to buy in the current market or are unable to secure a mortgage and this is fuelling extra demand for rented accommodation."
Buy letting agent software that works
