As Belvoir's network turnover reaches an all time high MD Dorian Gonsalves predicts perfect marke...
As Belvoir’s network turnover reaches an all time high MD Dorian Gonsalves predicts perfect market conditions for long-term investment landlords
According to Belvoir, one of the UK’s largest specialist lettings agencies, new tenants will have to pay substantially more for a similar property than they did two years ago. The Belvoir monthly rental index, produced by 160+ offices nationwide, has shown a steady rise in rental income across the country throughout 2015. The latest figures show a further rise in rents from £695 to £710.
"It is clear that the impact on the housing market and private rental sector (PRS) will be significant”, says Belvoir Commercial Director, Dorian Gonsalves.
“However, it is clear that our Government needs to better understand and take note of the needs of the Private Rental Sector, and the critical role landlords play within the housing sector. Many industry bodies are asking the Government to help support the PRS by offering incentives to landlords and to increase pressure on lenders to make funding more accessible.
“With many public sector job cuts planned, and the residential sales market looking at a steady increase, the situation is predicted to continue for the foreseeable future and new BTL landlords will be attracted by higher yields and attractive purchase prices. Belvoir is well placed to provide unique and expert advice to landlords looking to extend their portfolios. An annual grow figure of 15% is further evidence of Belvoir’s continued success.”