Market conditions point to static or low rental increases.
The UK’s buy to let property sector is set for continued growth in 2015 with tenants, in particular, feeling the most benefit from prospective changes in the market. Current economic conditions, combined with likely interest rate increases in 2015 and the uncertainty of Government policies following the General Election could result in either static or low rental increases next year.
Throughout 2014 home ownership continued to fall to its lowest level for a quarter of a century. Whilst property prices generally experienced growth, greater mortgage restrictions introduced by the Bank of England designed to curb lending, kept many people off the property ladder – further strengthening demand in the private rental sector.
As for 2015, a number of unknown variables could all have an impact on the market.
If you have already done a search for a property, or are trying to figure out where to start, we’re happy to advise on properties before you buy, whether you are a Belvoir landlord or not.
For more information, please contact Jackie in Bangor, or Trevor in Newtownards.