Summer is nearly here, and there are many opportunities to expand your property portfolio or take your first steps on the buy-to-let ladder. Below we’ve outlined some of the reasons why now is the time to make a great investment.

 

 

The demand for rental properties is continuing to grow, with demand per available rental home last year spiking by 250% above the five-year average.* With people typically taking longer to get on the property ladder or choosing not to, long-term demand due to the shortage of rental property is anticipated to remain strong.

 

 

Rents have increased by 20% in the past three years, increasing by 11.1% in the past twelve months to March 2023.* The buy-to-let industry can potentially be very lucrative, and with higher demand, higher rent revenues may be achieved.

 

 

There are over 2,000 different mortgage deals available if you are buying a property to let;* so you should have options.

 

 

The standard of homes on the market has generally risen, with many coming up for sale at this busy time of year. Additionally many people put off moving in the latter part of 2022 and, during the pandemic, spent a lot of time and money getting their homes in tip-top shape.

 

 

The population in the UK is ageing, and unlike in the past, older generations are increasingly renting alongside younger people starting their property journey. This is yet another great opportunity to meet the demand for a niche in the market by targeting this sector.

 

 

Other avenues, such as holiday lets or student accommodation, present an opportunity to expand and launch your buy-to-let portfolio.