23 Aug

Buy-to-let properties 'get snapped up fast'

Buy-to-let properties 'get snapped up fast'

Estate agents are likely to be in demand after it was stated that buy-to-let homes are being snapped up quickly.

According to the director and founder of Letting Zone Mark Garner, "good properties are letting very quickly".

He added that this is likely to be the result of tenants staying in rental accommodation so that they can save money to buy houses for sale in the UK when prices drop further.

Mr Garner added that this is very good news for estate agents and landlords as they can "easily achieve another three to five per cent on the rent level of a year ago".

His comments came after the FindaProperty rental index revealed that rents have increased by 2.3 per cent from the end of the first quarter of 2010 to the end of the second quarter.

The average rent has risen from £820pcm to £839pcm by June 2010.

This also represents a growth of 1.9 per cent in rental prices compared with the same period in 2009, when average rent costs were £823pcm.ADNFCR-1222-ID-800035954-ADNFCR

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