Could now be the best time to 'buy-to-let'?
Rarely has there been so much movement in the market across the UK. Whilst summer is generally a quiet time in property the effect of Covid19 has meant fewer people taking holidays and more people prioritizing their lifestyle.
With interest rates so low a savings account is pointless and with recession looming, shares are risky. The consistently safe investment, as always remains Central London Property.
With the recent Stamp Duty cuts, buying a house has never been more attractive, and whilst the government have slowly been imposing more and more tax barriers for landlords – if you compare where your money works hardest – Property continues to give the better rates of return.
What’s the Catch?
Since May, prices have become unstable in certain areas with agents out of cities reporting a surge in house prices with demand outweighing supply. Central London however not only remains consistent but with more choice on the market, there has never been a better time to secure an investment property.
Our advice to landlords right now “Ensure your Buy to Let property is modernized and attractive to renters, in June alone 20% of our additional rental stock came from void AirBNB apartments which were impeccably finished and ready to move into. Even without our overseas students, there is a demand in Central London to rent, but expectations are high and renters have a far better choice than in previous years. As a landlord, it’s in your interest to keep your property looking good either to hold it’s rental value or to increase its market value when you come to sell”. Rob Hill, Director, Greater London Properties
If you are in a position to buy a property to rent, we would be more than happy to advise you on what type of home to look for and the rental values you can expect to achieve in the current climate. Please take a look at our website and give our Residential Sales Team a call on 0207 113 1066.
Greater London Properties are Central London’s largest independent estate agent. With branches across the West End we are perfectly positioned to serve our communities and offer advice and support for our Landlords, Vendors and Tenants.