Although it has been recorded that tenant demand is at its lowest in 3 years, 1 in 3 landlords are currently looking to expand their portfolios in 2014.
According to landlord today, “52% of landlords were reporting an increase in tenant demand at the end of 2011, but that fell to just 35% by the final quarter of 2013, according to the latest BM Solutions/ BDRC Continental Landlord Panel. The proportion of landlords reporting 'no change' in demand has risen, however, and the sector's stability and profitability is encouraging more landlords to invest.
Eight out of 10 landlords continue to make a profitable full-time living from letting.
And three-quarters of amateur landlords who use a rental property to supplement their day job earnings more than break even.
Average tenant arrears have fallen to a three-year low of £1,499.
Some 34% of landlords reported at least one void period over the past three months, a fall of 2%.
The average void duration fell by five days to 59 days over the quarter.
These statistics are extremely encouraging for current and potential new landlords who are considering purchasing an investment property.
We currently represent over 180 landlords. If the statistics are correct, at least 60 of our current landlords may be looking to expand their portfolios this year.
The rental market in Oxford still holds great potential for landlords; there is great demand for rented accommodation from students, professionals and young families.
College and County are always observing the property sales market in Oxford. Whether you are a current client of ours, or are new to being a landlord, we have a wealth of experience and knowledge to share with you. Being lettings specialist agency, we are well placed to give an unbiased opinion on potential investment or an overview of the best areas to invest in at any given time dependent on if you goal is yield or long term capital uplift.
For more information, contact David Gilson on 01865 722722 or firstname.lastname@example.org