12 Dec

Landlords advised to look for regional variations

Landlords advised to look for regional variations

Landlords in the buy-to-let market should forget about national trends and concentrate on the local picture, it has been advised.

A spokesman for the Association of Residential Lettings Agents has said that the market in the next few months will be "very patchy" and vary "tremendously" between different areas.

Explaining that in some districts there will be too much supply of rental property and in others too little, he added: "The only thing you can do is watch your local market, which has always been the case for the rental market."

This is partly because the rental sector is more "fluid" and "fast-moving" than the residential property market.

Recent evidence has shown that on a national picture the recent trend has been for lettings demand to rise.

The Royal Institution of Chartered Surveyors Residential Lettings Survey for the third quarter of this year found 56 per cent more surveyors reporting a rise in new landlord instructions than a fall in November, 11 per cent more than was the case in July.
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