Demand for private rental accommodation has hit a five year high, according to research by the NRLA.
The demand for properties to rent had increased by 8% in Q2 2021 compared to Q1 2021, reaching the highest levels in five years, following the easing of the COVID restrictions and the UK economy bouncing back, with the UK economy seeing 4.8% growth in Q2.
Of the landlords surveyed, there is a clear sign of regional variation in the levels of demand reported:
There has been increasing numbers of tenants leaving central London with the flexibility of working from home, or, hybrid WFG schemes offered by many companies adapting to the “new normal”. London was the only region of the UK to see rents decrease in July 2021, according to official data from the NRLA.
COVID has impacted residential landlords, with tenants at the start of the pandemic requesting rent deferrals, or, decrease, etc., but the impact in some areas is greater than in others:
With the return to normality, it is still unclear if London will still see a continued decline in demand, causing downward pressure on rents.
We firmly believe that investing into the UK property market is a great method of wealth generation and preservation, with record low interest rates, 21% increase in property prices in the 5-years to 2025 and rental growth of up to 16.5% forecast.
With a 21% increase in demand year-on-year from buy-to-let property investors, it is a great signal that investing in a rental property is still a great opportunity. Regency Invest specialise in areas where high price and rental growth are forecast will do exceptionally well, helping property investors do just this, by securing below market value property and excellent buyer incentives for developments that are that are under construction.
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Explore our range of buy-to-let property investment opportunities in the North West of England where prices are forecast to see price increases of 28% by 2025:
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