Buy to let property more affordable for landlords

Landlord Expert
By Landlord Expert July 6, 2011 10:06

The cost of expanding a rental property portfolio could now be more affordable for landlords, according to recent statistics.

May saw house prices fall by 0.4 per cent compared to April figures, the Land Registry has revealed.

The average cost of a property in England and Wales is now £161,823, which may help some buy-to-let insurance customers invest in a new rental home.

In addition, May's data reveals and annual price drop of 2.2 per cent, continuing a downward trend for UK house prices.

However, London has remained resilient, with property values increasing over the past 12 months by 2.9 per cent.

The East Midlands also saw prices rise compared to April values with an increase of 0.4 per cent.

A decrease of 6.9 per cent has hit the north-east of England over the past twelve months, while Wales experienced the largest monthly price fall between April and May, totalling 3.5 per cent.

In contrast, monthly rents across England and Wales continued to rise in May.

Rental property owners benefitted from a rise of 0.5 per cent last month, with the average monthly rate rising to £696, according to LSL Property Services.

Landlord Expert
By Landlord Expert July 6, 2011 10:06

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