The prospects for property investors with an interest in landlord insurance continue to improve according to the latest report to emanate from the housing industry.
The Halifax Bank, the UK’s largest mortgage provider, says that house prices have risen by just over 1% in the last 12 months to an average value of £163,311. The increase may not seem much, but for private landlords who have seen their rental income soar over this period, knowing that their investment is also increasing in value is the icing on the cake.
At the moment private residential landlords are having things very much their own way, young couples and families are still finding it very tough to find the huge deposits required by the banks leaving property investors the choice of the field, at a price they can usually dictate. As demand grows for property the Halifax report suggests that over four million homes in the UK are now in the private rental sector.
It is not just London where landlords can pull in big rental profits, according to industry reports areas like the North West, traditionally a place of meagre rental yields, are experiencing rental rate rises of around 20%. This is reflected almost everywhere in the UK and led to Ray Withers, an expert in property investment, to say “With demand outstripping supply in the Buy-to-Let market, those with enough capital to invest in the growing Buy-to-Let arena are benefiting from some of the highest monthly returns on record.
“Big rental returns from UK property have alerted overseas investors to the UK, attracted not only to a solid market from which to reap weighty returns, but also a safe and reliable place to invest.”