11 Nov

Rise in rental prices 'good news for buy to let owners'

Rise in rental prices 'good news for buy to let owners'

People who own buy to let properties are likely to welcome the news that rents have increased.

Today (November 11th 2010), the Rent Index revealed that over the last three months, rents have grown by 2.22 per cent.

Findings also showed that over the last six months, they went up by 4.75 per cent, while they are currently 1.17 per cent higher than they were a year ago.

The results were calculated from 6,359 buy to let properties, with the results taken as a 90-day average of rents.

Earlier this week, easyroommate.co.uk reported analysis of Office for National Statistics' migration data, which revealed that 11 per cent of people who share rented accommodation moved to another region last year, compared with just two per cent of homeowners and those who rent properties alone.

This trend in tenant migration is good news for buy to let owners, as it could bring more people in search of work to their areas.

If there is a greater number of residents, this is also likely to suggest that proprietors' accommodation is in greater demand, which could see rental prices rise even further. ADNFCR-1222-ID-800230538-ADNFCR

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