The decision that Britain is to get an official buy to let rent index for the first time has been welcomed by Belvoir Northwich, Belvoir nationally has been publishing its own version of a rental index for some time.
James Whalley, Office Manager at Belvoir Lettings Northwich, who offer a wide range of property to rent Northwich, said: “The idea to produce an official rental index is a great idea, currently the marked is overflowing with official and unofficial surveys that deliver widely differing results. The new index will allow investors, homeowners and first time buyers to see the official figures needed to make an informed decision when it comes to renting or making any important financial decisions.
“We have been producing our own version of a rental index for some time now and as the market matures, the information is becoming increasingly useful to investors and tenants alike.
Earlier this week, National Statistician Jil Matheson has come up with three recommendations for a new system:
A new headline house price index for the entire UKA new private rental index for the entire UKMore timely and localised data for homebuyers and landlords“This report builds on the findings from my review of official house price statistics, published in December 2010,” said Matheson.
“The housing market affects everyone in the UK in some way. Statistics on the housing market and the factors that influence it are essential for making informed decisions on housing, whether in central or local government, the private or voluntary sector, or private individuals deciding whether to move, rent, buy or invest.”
James, whose letting agency on Castle Street in Northwich, specialises in providing flats to let in Northwich, added: “Belvoir has been producing its very own version of the rental index for the last few years.
“Our very own version for the index, has been released using a new five-year analysis of rental data, which reveals the full extent of the credit crunch on the Buy to Let (BTL) market at national, regional and county levels.”
