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Agents Optimistic
About Lettings
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How Refreshing
Attracting new
tenants, doesn't just mean cleaning carpets and
painting everything white.
You'd be surprised
how adding warm colours and staging with choice
furnishings and accessories raises the calibre
of your tenants.
Mr B's property
management and tenancy agents were certainly happy
with Home Stagers recommendations. He has a Rental
Review & Refresh every year on all his
properties.
Keeps your
asset up to date, and the value in your investment.
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by FindaProperty
More than
half (58%) of all lettings agents are reporting rising
or stable rents, says a new survey from the Association
of Residential Lettings Agents (ARLA)...
Nationally, says the survey, a quarter (25%) of all
agents report that rents were up at the end of February.
Exactly a third (33.3%) report that rents have remained
the same while 41.3% say rents are down.
London
vs the Rest
There
is, however, significant regional variation. In prime
central London only 5.3% of ARLA agents see signs of
rents rising. 71.3% say rents are down and 23.3% report
that they have stayed the same.
In the
rest of the South-East there is more optimism. A quarter
(24.3%) believe achievable rents are up, 35% that they
have stayed the same and 40.8% that they are down.
Across the rest of the UK the situation is much more positive.
43.5% say that prospects are bright and report rising
rents. 40.6% say rents have stayed the same and only 16%
say they are down.
Buy-to-Let
 On the buy-to-let front, investors have seen
the price of an investment property prime central London
rise by 4.7% over the last three months. The rest of
the South-East saw rises of 3.2% and the rest of the
UK just 0.8%.
For
those already in the market, value of a buy-to-let property
has risen over the past year from £156,700 to £167,900.
This rise takes account of the downward blip towards
the end of last year caused by the fall in values in
prime central London.
The number
of new tenancies arranged over the last quarter was
down by 14%. However, it is noticeable that the average
void period has remained unchanged, at 28 days - though
prime central London the average void was 36 days.
Supply
and Demand
As for supply and demand, a little over half
of the ARLA members (56%) believed that there were more
properties than tenants. This is an improvement on November,
when two thirds, 66%, believed there was oversupply.
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Staging to
Let
Need to attract
new tenants? Want to attract the right calibre
and the right income?
Whether you have
one property or several up for tenancy, by staging
a property you are likely to get faster
rentals, top rental
price, advance orders
on properties still under development, and high
calibre tenants.
Show
Home Staging is the way to go.
Show Home Staging
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In prime
central London, 78.6% believed there was an oversupply
during the three months to the end of February. This
is a drop from 84.5% in November. In the rest of the
South East, 54% believed there was oversupply, against
68.2% in November.
In the rest of the UK, only 37% believed there was oversupply,
a drop of nearly 10% from 46.8% at the end of the last
quarter.
Commented
John Crossley, Chairman of ARLA, " There seems
to be an overall return to balanced supply and demand
as a result of traditional growth in the rental market
that always appears when house price growth slows down.
The survey also proves, once again, that Buy to Let
investors are a driving force in housing by providing
choice in housing."
© Hallmark Projects 2003
©
Copyright 2003. All Rights Reserved
Useful Links:
Association
of Residential Letting Agents - ARLA, the Association
of Residential Letting Agents, is the only professional
self-regulating body to be solely concerned with lettings.
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