In a study undertaken by Sainsbury’s Bank, 9% of adults in the United Kingdom have expressed an interest in obtaining a buy to let mortgage this year. If all these people followed through with this aim, it could lead to close to five million new landlords in the UK. It is very unlikely that this will occur but the fact that there is a sizable element of people looking into the market means that there is clearly an elevated level of interest in the market.
The study suggests that 35% of respondents who are considering a buy to let mortgage have cited a change in income levels as their inspiration to act while 29% of respondents have said that they have been encouraged by the current opportunities available in the rental market.
There is strong demand for rental property
There is no denying that there is a huge level of demand for rental property. With rising rental fees and a strong level of demand, it is only natural that outsiders will consider this to be a market that can provide them with a strong level of income. Not every current landlord will agree with this review of the market, but it should be stated that new landlords are in a better position to prosper than many existing landlords.
There have been significant changes in the rental market. Increased property regulations, new tax issues and considerable pressure from all parties means that many landlords have seen viable business models eroded in recent times. New entrants to the market would come in with a clean slate, allowing them to set up their own business model which would allow them to prosper in the market.
Being a landlord isn’t easy but there is an argument that a new landlord who is aware of the current regulations will be better placed to deal with the modern market than a landlord who has been in place for many years.
We can help you make progress in Petersfield property market
No matter what your circumstances are with respect to the property and rental market in Petersfield, we like to think that we can help. If you agree with many people in the UK that there is an opportunity to prosper as a landlord, we would be delighted to assist you. We can help you find your ideal property and we can also offer guidance in managing the property and finding the right tenants.
If you are looking to sell your home in Petersfield, this wave of would-be landlords represents a demographic that you can sell to. It may be that your property is perfectly suited for a landlord and if it is, we can help you sell your home in an efficient manner. It may even be that you are an existing landlord in or around Petersfield and you are looking to make a change. Whether you are looking for assistance in acting as a landlord or you would like to exit the market, we can help.
At Williams of Petersfield, we like to think we provide valuable services for all our clients, no matter what they are looking for. Get in touch if you need assistance from a reliable and helpful local estate agent.