There has been a lot written and said about people leaving London, but at David Harris & Co, we don’t think this is the case. We work closely with landlords and tenants, and we know how important the capital is for many people.
There is also an abundance of research which suggests people want to be in London.
Landlords love the capital
The research undertaken by yieldit suggests 54% of landlords, across the UK, are looking at London for their next investment. After this, the North West and North East of the country were most popular, with 24% each. Wales doesn’t appear to be fancied too much by landlords, with only 7% of investors saying they would buy rental accommodation there.
Sophie Willis, head of aftersales from yieldit, said: “London has long been a hotspot for landlords and our latest insight shows that this isn’t changing any time soon. London’s young and transient population are keen to rent rather than buy and landlords can buy property in the capital safe in the knowledge that their investment is sound.”
Sophie continued by saying; “The northern regions haven’t fared quite as well, but with around a quarter of landlords saying they’d buy in the north-west or northeast, 13% looking at Yorkshire and 14% keen on Scotland, there is still plenty of appetite for rental property investments in this part of the country.”
Landlords choose to buy-to-rent close to where they stay
It probably isn’t surprising that most landlords are keen to invest in rental property close to where they currently stay. If you are looking to be a hands-on landlord who manages many things for yourself, this makes perfect sense.
However, you don’t need to do this, and even if you are close to your rental property, there is a great deal to be said for calling on local specialists. At David Harris & Co, we are pleased to say we know the Finchley rental market well, and we work hard to bring landlords and tenants together. We also stay in touch with the latest studies, and the following findings are of interest to local landlords:
· In the capital, 98% of landlords based in London said they would look to buy-to-let in the capital
· 18% of respondents said they would consider buying-to-let in the North West of the country
· 27% would consider the rental market in East Anglia
· 30% of landlords currently based in the North West of the country would consider investing in London
If you are considering entering the London rental market and would like guidance on where to invest in property, we are here for you.
Sophie Willis also said; “Landlords are spotting rental opportunities all over the country and it’s encouraging to see so many landlords looking to branch into new regions. This is a modern way of approaching rental property purchases but one I predict will only grow in popularity as the rise of remote working drives more renters out of the big cities hunting for a more relaxed, suburban lifestyle.”
If you have any questions about the housing market, or you need assistance, please contact David Harris & Co today. Call us on 0208 346 9122.
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