January was a good month for the Mackenzie Smith Lettings Department but February was fantastic!
It was a perfect combination of a good number of quality properties coming to the market and some exceptionally good quality applicants registering. As a result we were able to arrange the letting of a significant number of those properties from furnished executive apartments to character cottages and modern family houses, and 99% of those properties let at the full asking price.
I did wonder at the start of the year if the Government ‘Help to Buy’ scheme would entice a significant number of people out of rented accommodation but it seems that for every one person wanting to buy there are at least two who don’t – either because they cannot raise the deposit to buy or because they are moving with their work and only need somewhere for 12 months or so.
The upturn in house prices has though enticed more first time investment buyers who see the rise in house prices as yet another reason to invest in the Buy-to-Let market. As rental levels remain at a record high investment landlords still get a very good yield from their properties but now also see the capital growth at its highest for several years.
This is good news for prospective tenants too as the quality of the stock available to rent is generally tip top as many investment landlords are buying brand new and they recognise that to attract the best possible tenant their property must be in the best possible order.
Michael Clarke, MARLA, Lettings Director
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