Rental Market Beaconsfield Update for May 2023:
Welcome to this month’s rental market update from our lettings manager, Claire.
Demand for property continues to grow but there is very little increase in new rental homes; this comes from a recent Propertymark survey of agents across the UK and certainly mirrors our own stats. Our office alone registered 94 applicants over the month, 7 went on to agree on an offer but we only listed two new properties. This means that pressure on rent prices is remaining, whilst new legislation will undoubtedly have a knock-on effect; we desperately need more homes for renters.
The hike in landlords’ mortgage rates is of concern in the medium term and some will consider selling as a result, although the increase in rental price should out way the increase in mortgage payments for most buy-to-let landlords. There is, however, still a fair level of active investment buyers and with house prices reported to be falling, this year may be a good opportunity for these buyers.
Snapshot of the Rental Market 5th June 2023:
- Rental Properties on the market in Beaconsfield: 31
- Listed in the past 2 weeks: 14
- Average property rents in Beaconsfield: £5,218 pcm
- Median rent: £3,995 pcm
If you are considering building up your portfolio and would like to chat with our lettings team please get in touch with me HERE.
Current Investment Opportunities:
- Guide Price £379,950
- Potential Rental £1,400 pcm
- Gross yield estimate 4.4%
- Freehold
- EPC rating D
- Council Tax Band C
- Guide Price £375,000
- Potential Rental £1,400 pcm
- Gross yield estimate 4.5%
- Lease expires 24th June 2187
- Service charge: £800 pa
- Ground rent: none
- EPC rating D
The 2023 ARLA Propertymark Conference:
On 27th June the Ashington Page team will be attending the Propertymark Annual Conference at the OVO Arena in Wembley. The line-up includes radio and Fantasy Homes presenter Jenni Falconer; with guest speakers including Olympic champion Dame Kelly Holmes, and the infamous jeweller and businessman Gerald Ratner.
The event concept is ‘raise your game’ and will bring together a property community of NAEA and NAVA members as well in addition to ARLA Propertymark members for the first time. With over 50 exhibitors all providing solutions designed to make businesses work smarter and more profitable, it will be a full day and I look forward to sharing the feedback with you next month.