Boost for landlords as rental rates rise
BUY-TO-LET property investors are enjoying even better returns on their investments as rent prices once again hit new highs.
Last month typical rents across England and Wales increased by 3.2 per cent annually to reach £741 a month, according to research by lettings agent network LSL Property Services.
It was the fastest year-on-year increase recorded since February as the thriving rental market continued to enjoy growth.
Returns on investment property have increased for many buy-tolet investors as larger numbers of people have continued to rent homes due to difficulties in obtaining mortgages and raising sufficient deposits to buy houses.
Rents have been climbing upwards for half a year.