Buy to Let booming in London and South East
The buy to let market has been identified by experts to be a booming market, with up to 40% of purchases in the South-East being buy to let.
Lee Watts, KFH’s Managing Director: “The buy to let market has seen a resurgence of late across London and many of our branches are reporting growth in this area. The South East appears to be the front runner with the highest yields and price rises. Many areas are reporting high activity in the market with Crystal Palace, Surrey Quays, Southgate, Belsize Park, Kingston and Wimbledon all seeing approximately 30% of the market dedicated to this type of sale.
“When it comes to the reasoning behind the purchases, there appears to be a pattern developing. The majority of all buy to let purchases last year were made by those looking to safeguard their pension. Many are in their 40s, 50s or 60s and see property as offering a better return than bank accounts, bonds or other investment vehicles.”
Handily, KFH has broken down the trend by area:
See the full break down on PrimeResi
The Daily Telegraph has also released this week its list of “Top 20 places to make money from property“, which confirms this area as a good investment. The list is based on demand for rental properties, and within this top 20 list, 10 are in the UK:
1. Victoria, London
4. Plymouth, Devon
7. Basildon, Essex
9. Earl’s Court, London
With demand set to increase for rental property throughout 2013 now may be a good time to look at your management systems, whether you are a landlord managing their own portfolio or a letting agent. So why not check out RentPro to see how we can assist you with managing you properties.