Ris­ing rents higher than mort­gages

Yorkshire Post - Property - - PROPERTY -

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.”

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