The CBI believes the number of people renting in the private rented sector is expected to reach 1 in 5 (20%) by 2018. More than social housing and over double the amount of renters in 1999 when I entered this industry.
The CBI believes the number of people living in the private rented sector will continue to grow due to three major drivers: population growth and more new households, imbalances between demand and supply inflating the price of housing, and the cost of living slowing the ability of people to save to buy.
Private renting is now part of everyday life for so many people and businesses including almost daily discussions and debates in the House of Commons.
A generation of renters could be left behind as the housing debate focuses on home ownership warned the CBI, as it called for action to boost investment in the rental sector.
Amongst the measures the CBI is calling for are the Government to reduce the VAT rate on repair and renovation to lower costs, and councils to do more to drive investment from large institutions. Please follow this link for the full statement from the CBI.
Build to Rent
Central Government launched the Build to Rent fund in December 2012 with the first schemes announced in April 2013. In addition to these projects there will be thousands of properties built and sold to Buy to Let investors that do not use the Build to Rent fund. In my opinion the Buy to Let investor with single properties or small portfolios will continue to be the backbone of supply to renters for many years to come.
The Buy to Let market in Peterborough continues to offer investors opportunities for annual income and capital growth. Careful selection of the area to invest in, the property type and the tenant profile remains key to delivering investment goals. Gain information and seek advice from specialists before spending your hard earned money.
Free Buy to Let Advice and Sale Advice
Terry Lucking is the owner and director of Belvoir Peterborough. Terry is proud to have worked in the private rented sector for close to 15 years with thousands of landlords and tenants.
Terry and his team would be pleased to receive calls or emails from landlords considering selling a property with a tenant in situ. They would also be pleased to receive calls from prospective investors.
Belvoir Peterborough is an accredited and regulated letting agency. They are members of ARLA, Safe agent, Safeagent and the Property Ombudsman. One of the requirements for membership of ARLA and Safe Agent is to have Client Money Protection and all client monies independently audited and accounted for annually.
This article was prepared and written by Terry Lucking owner of Belvoir Lettings Peterborough and Cambridge.
For more information or to ask Terry a question call 07801 865780 or send an email to terry.lucking@belvoirlettings.com
