Julie West, Managing Director of Zest Lets, says that many of her clients have invested in more property as tenant demand continues to grow.

Her comments came as agents up and down the country saw an increase in monthly rents as more people are attempting to get on the property ladder.

She said: “There are some fantastic properties to invest in at the moment in the North West and if people have the money to do so, then that is what we are recommending them to do.

“Once they made that commitment, there is a really good chance that they will enjoy a regular positive income stream, which will in turn erode the value of their mortgage debt as the years go on.

“I think that these beneficial times for landlords are set to continue, especially as the base rate doesn’t look like it will increase anytime soon.”

Julie also said couples trying to get on the property market have ‘no other choice’ but to rent as they struggle to raise the money to buy their own home or get a mortgage.

Nearly half (47%) of ARLA member agents have surveyed and reported a rise in the number of properties on the market  as homeowners turn to the PRS because they are unable to sell their property in Q3 of 2011. This figure has risen from 40% at the beginning of the year.

In England, this trend was noticeable in the North East and North West in particular, where higher proportions of respondents reporting an increase in rental property coming onto the market because it cannot be sold. More than 60% of members in Scotland, Wales and Northern Ireland also noted an increase. In contrast, the figure was lowest in Central London (17%).

According to ARLA, this means some homeowners will be turning landlord for the first time, many reluctantly.”Letting a property is an excellent way of generating consistent income from your property, if the correct approach is adopted by prospective landlords,” said ARLA President Tim Hyatt.

This research highlights the decision the vendor is making to turn to the letting sector in order to make the most out of their property in the current climate.

Keynote speaker Terrie Alafat, Director of Housing Growth and Affordable Housing at  Communities and Local Government (CLG), told the conference: “It is an exciting time for the private rented sector. Housing is definitely at the top of the government’s agenda and the private rented sector is in the middle of all of that.

“We know that demand is continuing to grow and the sector has responded to that, expanding to house about 3.4 million households in England, which is an increase of one million since 2005.

“There is recognition about the flexibility of the sector. It isn’t a last resort, it is actually a sector which is the choice for people who do want that flexibility, who may want to move to work.

“It provides housing for those who can’t access other forms. We know social housing is hugely under pressure and home ownership is more and more difficult for first time buyers.”

David Salusbury, Chairman, National Landlords Association, adds: “This year’s NLA conference was another success. It was encouraging to hear such positive comments from senior government level about the important part the private rented sector plays in the UK housing solution.

“It is vital that the UK is able to offer a diverse housing mix, and the NLA will continue to work with the government to help provide flexible options in this time of high demand.”

Think Local, think Cambridge Residential! 

Cambridge Residential have joined forces with the champions of independent businesses “Think Locally”.  In November Think Locally will release their 8th publication supporting the key indie businesses around the country, this time focusing on our very own Brighton & Hove.  Visit their site to view the previous editions and look out for our exciting article in the Brighton edition at the end of this month. 

http://www.thinklocally.co.uk/

In September 2011, the average rent in England and Wales rose by 0.7% to £718 per month, beating August’s previous record high of £713.

This rise was recorded in the latest buy-to-let index published by LSL Property Services who are the parent company of the national chains Your Move and Reeds Rains. The commerical director from LSL said, “No reigion has been immune to the growing demand for rental homes from frustrated buyers.”

The report also found that there has been a marked improvement in tenant arrears, dropping to the lowest level since April 2010. Only 6.8% of all UK rent was unpaid of late by the end of September 2011. Great news all round.

The private rented sector is running out of capacity, according to the Association of Residential Lettings Agents. The number of agents reporting more tenants than properties has hit a record level, with 74% saying that demand is outstripping supply.   
 
The latest ARLA survey, of 572 lettings offices operated by members, also demonstrates that the period in which tenants are staying in their properties has increased to 19 months, as tenants give up trying to find a new property in such a competitive market.
 
The number of new tenancies signed up by agents has risen rapidly in a consistently upward trend since 2001. But this figure has remained consistent at 34 new tenants every month per branch throughout 2011 after record numbers of new renters entered the market in 2010.

Tenant demand continues to spiral, say landlords   

Tenant demand continued to climb during the third quarter of the year, research by specialist buy-to-let lender Paragon has revealed.
 
The Private Rented Sector Trends Report for the third quarter gives a detailed overview of the sector and landlords’ views on performance.
 
More than four out of ten landlords (44%) said tenant demand increased during the third quarter and just 4% thought it declined. When asked for their forecast of tenant demand for the next 12 months, almost half of landlords (49%) said they expect it to continue to increase.
 
Rental income remained healthy for a third consecutive quarter with 34% of landlords reporting an increase and only 4% saying it had decreased. Of those landlords who achieved an increase in Q3, 11% said it was between 2% and 4%.
 
The report also reveals a shift in the types of properties that landlords are looking to purchase. Terrace houses were the most popular choice at 41% followed by flats (35%) and then bungalows – which have surged in popularity from 2.7% in Q2 to 10% in Q3.

Cambridge Residential customers will receive a 10% on their moving costs when they use MBE Removals. Expert removal services in Brighton & Hove with over 15 years experience, call Joe for a free estimate on 01273 382032 or 07917 117 889

 Sussex Eco Heating                                                                                

 www.sussexecoheating.co.uk

 Mobile 07831663883 | Tel: 01273 382174 

Sussex Eco Heating provides a wide range of heating products and services to suit a variety of customers and properties. We take great pride in the quality of our installations and aftercare service. We are always willing to give friendly and free advice about your heating requirements, please contact us for a chat.

The company was founded with the goal of giving excellent service to our customers and enable them to make changes, however small, to improve the efficiency of their heating in their home and therefore help to reduce their impact on the environment and save themselves money.

Paris House – http://www. drinkinbrighton.co.uk/parishouse

21 Western Road, Hove, BN3 1AF 01273 724 195

Located directly opposite the Cambridge Residential offices on Western Road, the Paris House is the ideal spot for a coffee, glass of good French Wine or a bite to eat.

 Hove Kitchen – http://www.thehovekitchen.com/

102-105 Western Road, Hove, BN3 1FA 01273 725 495

The Hove Kitchen is an excellent restaurant and bar located in the heart of Hove. It has a fantastic modern English menu and an extensive range of beers and wines from around the world. The Hove Kitchen is a family friendly establishment holding weekly coffee mornings for parents and babies including a special play area.