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Could your rental property deliver a higher yield in 2022?

Could your rental property deliver a higher yield in 2022?

According to recent data, the combination of high tenant demand and low numbers of available properties has caused average UK rents to rise at the fastest rate ever recorded. *

 

Rental demand has been reported as 32% higher than at the same time last year, while the number of available rental properties is 51% lower than this time last year. Flats have seen the highest increase in competition compared to last year (+132%), followed by terraced houses (+40%) and semi-detached homes (+30%).

 

Data collected from a popular property portal suggests that the average rental yield across the UK is now 5.5%, which is the highest since 2016. Industry experts are hopeful that rents will increase further this year, with a well-known portal director explaining, “Tenant demand continues to be high entering the new year, meaning the imbalance between supply and demand is set to continue until there is more property choice for tenants, which has led to our prediction of a further 5% increase in average asking rents in 2022.”

 

To find out if you could increase the rental income from your property, get in touch today to book a free lettings valuation.

 

*Rightmove

From the blog

7Aug High demand forces rental prices to increase

High demand forces rental prices to increase

Low supply and soaring demand fuel high prices for both the sales market and the private rental sector – a truth that makes itself felt by landlords and tenants.   NAEA Propertymark – a membership body for estate agents – has recently shared data collected by its members to provide a snapshot of the current […]

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