Rising rents higher than mortgages
THE latest RICS Residential Lettings Survey reports rising yields on rental properties in Yorkshire as a result of increased tenant demand and rising rents.
In the three months to October, 20 per cent more chartered surveyors reported total rental yields rose rather than fell. This is the fifth consecutive quarter that yields in the region have increased and reflects the imbalance between rental demand and supply which is continuing to push rents higher.
Jon Charters-reid, RICS housing spokesman for Yorkshire, says: “The rise in rents across the region means that more and more people are now paying higher rents than they typically would do for re-mortgage repayments.”