Rents rising UK-wide! We show you the BTL investment hotspots!
Average UK rents rise to £1,159 PCM. The average monthly rent across every area in the UK increased by 1.4% to £1,159 in September compared to August. And year-on-year, UK monthly rent has increased by 9.2%.
Stephen Clark from Finbri comments, "Rents rising across the country just cements how demand for housing continues to outstrip supply. The only way to solve this problem is to build more housing, both private and affordable. According to one estimate from the National Housing Federation (NHF) and Crisis from Heriot-Watt University we need to be building some 340,000 new homes just in England each year, of which 145,000 should be affordable.
We haven't hit that number since 1971 when we managed 363,000 new builds. For comparison the UK completed just 204,530 new builds in 2022 - that's just 56% of what's needed.
Whilst the construction sector continues to boom there's still plenty more houses that need to be built. As such we expect an increase over the short-term for specialist funding requirements such as bridging finance and property development finance to help the market meet this building challenge - be it through build to rent or build to own."
University towns and cities remain the hottest places for landlords to own buy-to-let properties based on average rents, rental yield, price growth, tenancy voids and the size of the rental market in each area, and we've discovered the top cities (and the worst) for buy-to-let investments...
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