Rise in rental prices 'good news for buy to let owners'
People who own buy
to let properties are likely to welcome the news that rents
Today (November 11th 2010), the Rent Index revealed that over the
last three months, rents have grown by 2.22 per cent.
Findings also showed that over the last six months, they went up by
4.75 per cent, while they are currently 1.17 per cent higher than
they were a year ago.
The results were calculated from 6,359 buy
to let properties, with the results taken as a 90-day average
Earlier this week, easyroommate.co.uk reported analysis of Office
for National Statistics' migration data, which revealed that 11 per
cent of people who share rented accommodation moved to another
region last year, compared with just two per cent of homeowners and
those who rent properties alone.
This trend in tenant migration is good news for buy
to let owners, as it could bring more people in search of work
to their areas.
If there is a greater number of residents, this is also likely to
suggest that proprietors' accommodation is in greater demand, which
could see rental prices rise even further.