Expanding your property portfolio

Are you planning to expand your property portfolio in 2022? In a recent survey of landlords 34% said they were planning to buy at least one property within the next 12 months. With supply of properties currently low this will be welcome news for tenants. This will also be good news for landlords as it is predicted there will be a 5% rise in rents in 2022 as the balance of supply and demand continues.

In the last quarter of 2021 the average asking rents hit an annual growth of 9.9% to reach £1,068 per calendar month (pcm) outside of London. This is the highest annual jump on record, recovering from the slowdown in rental growth in the months immediately after the pandemic started.

The North West saw a rise of 12.5% and many landlords have seen a substantial increase in the equity of their properties. This enables many to re-mortgage, drawing out a deposit to help them expand their portfolio. With rents increasing this often covers the increase in any mortgage payment.

We have seen a sharp rise in the number of potential tenants wanting to view our properties with many receiving over 40 enquiries. With the rental demand on the rise and the number of available properties so low this has led to properties being snapped up by tenants in an average of 17 days.

Thinking of expanding your portfolio then drop us an email.