Healthy figures for buy-to-let companies
The proportion of properties let by company landlords has increased to 12% as of July this year.
Data collected by Hamptons International explains that this is the highest number of properties let by company landlords recorded since the firm’s records began eight years ago.
The estate agent estimates that collectively company landlords own 641,480 homes in Great Britain, 42% higher than the figure in 2015.
Regionally, landlords in London were most likely to own a buy-to-let property using a company structure, at 13%. This was followed by Scotland, the south excluding London, and the midlands all at 12%.
Furthermore, the data shows that the average cost of a new let in Great Britain rose to £986 per month in June, a 3.1% rise year-on-year.
Excluding London, the average cost of a new let in Great Britain in June was £787.
Average rents rose in six of eight analysed regions; the South East saw a 4.5% rise in the year to June 2019. This was followed by Greater London at 4.3%.
In contrast, Wales saw a 0.4% decline, and the north of England recorded a fall of 0.2% in the same time frame.
More than one in ten rental properties are now owned by private companies, an indication that the sector continues to professionalise.
Increasing taxation for private landlords combined with the growth of the build to rent sector has meant that more companies are letting homes than at any time since our records began.
Strong rents in the south drove rental growth in Great Britain in June. Low stock levels, particularly in the south, continue to put pressure on rents.
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