I was talking to a couple last week, who are considering becoming landlords for the first time. One of their comments was that they had been outbid on several properties. This story has been repeated to us by other investors and also confirmed by local Estate Agents.
Since 2006, the private rented sector in Northern Ireland has grown from 12% of the housing stock, to over 16% today. This trend looks set to continue for a while.
There are still great deals out there. But, if you are considering becoming a landlord, expect to join a bidding war for the best investment properties.
For example, properties in the Stratford area are always in good demand. With prices starting around £115,000, and rents of over £650/m, gives an investor a yield of 6.8%.
The Onslow area is also popular with tenants. With property prices currently beginning at £149,950, and rents of £650/m, you could expect yields of 5.2%.
Belvoir Lettings do not sell properties. We do however offer free, impartial advice on whether the property you want to buy will rent and at what price.
For more information, please call us or pop into our Bangor or Newtownards offices for a chat.