It seems as though there is a new record set in the rental market each month, and June was no exception. According to the Office for National Statistics (ONS), average rental prices in the UK rose to the highest figure since 2016. The annual rise, of 3%, was a modest one compared to some annual growths, but with the figure moving upwards, it suggests the rental market continues to present opportunities for landlords.
In May of this year, the annual rate increase was 2.6%, so there was a jump from May to June when considering the yearly increases.
Ceri Lewis, the housing market statistician at the ONS said; “Rents continued to grow across the country, with the East Midlands seeing the biggest rises. London was again lowest, though its rate of increase continues to climb.”
If you would like to discuss the local market, please get in touch, and we will be more than happy to discuss your options with you.
Peterborough is a viable option for landlords and property investors
While some landlords and property investors will cling to the notion of London rates rising, there is no denying many capital investors have looked away from London. There is better value for money on offer around the country, and we are pleased to have welcomed investors and landlords from London to Peterborough.
It is not as if Peterborough is the only option to consider for rental property outside of London, but it is an option. Anyone looking for affordable rental property, a local area where improvements are scheduled and currently taking place, and a location where there is consistent demand for rental property, Peterborough is an option worth exploring.
Every month there is positive news in the local jobs market, with new companies coming to Peterborough or current firms expanding. These developments are hugely important for landlords, and as a local agent, we keep you fully informed of why Peterborough is an attractive place to invest for investors and landlords.
We also provide property management services, so you don’t need to move to Peterborough to let a property here. You could move, and we think you’d love it, but equally, you can sit back, relax and let us manage your rental property and tenant(s) with a minimum of fuss and effort on your behalf.
Just Lets – Here to Help
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
The team at Just Lets Peterborough continue to operate remotely to ensure we can continue to serve you and your tenants throughout this covid period and beyond. Please contact us through our usual channels – email us at firstname.lastname@example.org or call us today on 01733 346255.