19
Jun
Landlords see rents reach £696 in May
The average rental price in the UK in May was £696 per month,
according to new figures released this week.
Smartlandlord.co.uk's Buy-to-Let Index for the month also showed
that the proportion of tenants who are students increased from 1.1
per cent to 5.8 per cent - it cited the difficult employment market
as the reason for this upturn.
Indeed, unemployment exceeded two million in March and it has been
estimated that it could reach close to three million by the end of
the year.
Keshav Thukaram, managing director of Smartlandlord.co.uk, said
that areas just outside London have experienced "a surge" in tenant
demand due to people wanting to leave the capital in the wake of
the economic downturn.
Offering advice to landlords and property investors, he added:
"This is the perfect time to snap up bargain properties that over
the long term will yield great returns."
However, he warned them to think about the factors that may affect
their "medium-term cash-flow" and ensure they protect
themselves.
