Recent industry reports suggest demand in the rental sector may have peaked, but we’re currently unable to satisfy around 50% of applicants, due to a dearth of properties on our books. Compare this to three years ago when we were able to match 80% of applicants to suitable properties.
So why the change? The reasons are varied, but include:
- A decrease in the availability of buy-to-let mortgages
- Landlords selling rental properties to release cash
- HMO regulations complicating the rental process
That said, there is still money to be made from renting out property and now is probably a really good time to do so. Rental prices in some areas of the UK are slowing, but prices across Oxfordshire remain stable and with such a transient population demand will always be good.
At a time when property sale prices are lower than five years ago, renting out your second property – rather than selling – could be the better decision. You’ll enjoy a good rental income, your asset is protected and you can choose to sell when the sales market recovers.
If you are planning to let out additional properties, or a property for the first time, it’s important to do plenty of research and consult with experts and this is where an experienced letting agent comes into their own. The Letting Centre only does lettings and offers free, expert and impartial advice to experienced and first-time landlords.
Call us now on 01865 759930 to arrange a no-obligation discussion















