Just like the snow, the property market seems a little unsure as to what it’s doing, with the Office for National Statistics reporting a fall in UK property prices of 0.3% last month (0.5% in England), and property price growth slowing slightly from 5% to 4.9%.
As pension funds shrink, many people consider the buy-to-let opportunity as a viable alternative, and with good reason. The effect of low interest rates and a historically rising property market make buy-to-let one of the most attractive investments accessible to the public. And the great thing is – you can use the bank’s money! The average national annual return is over 5%* excluding capital growth – which has always risen strongly over the longer term. (NB: such an investment was never designed to be a short-term “fix”!)
Most buyers use the internet in their search for a home, so you need to be sure that your property is found and promoted quickly and easily. It is therefore important that your agent subscribes to the most effective property portals because this is how buyers are directed to your property.
Some people feel that flats and houses should be able to “let themselves” and do not need to be “shown” by letting agents. Whilst this may be true of certain exceptional properties, or where achieving the optimum rent is not an issue, most properties require the skills of a well-trained letting agent if they are to secure a good rent within a reasonable timescale.
The press is currently full of mixed messages about the property market, especially following the Brexit debate, election, budget, etc. Will it rise, will it fall, is it a good or a bad time to move? Fortunately, we have remained extremely busy, and find ourselves in need of stock to support this demand.