26 Mar

Buy-to-let landlords witness 4.8% rental growth

Buy-to-let landlords witness 4.8% rental growth

Rent for buy-to-let properties has risen by 4.8 per cent over the last year, according to new figures released by BM Solutions.

The organisation, which is the buy-to-let arm of Lloyds Banking Group, said that continuing strong demand by tenants led to the average monthly rent climbing to £716 last year, up from £682 in 2010.

Letting agents in the north of the country have seen the highest rental yields over the past 12 months at seven per cent.

This is in comparison to London, which recorded a figure of 4.8 per cent.

Phil Rickards, from BM Solutions, said: "There is a very healthy demand for rental properties across the UK right now, which in part may be driven by the costs associated with buying a home: costs which, for some, will only increase as the stamp duty holiday comes to an end."

The demand for rental property will also see the mortgage market for landlords grow faster than any other, according to Lee Grandin, director at Landlord Mortgages. He claimed recently that this sector is one which is definitely in the growth phase again.ADNFCR-1222-ID-801326308-ADNFCR

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