There is no denying the current strength and growth of the Private Rented Sector (PRS) in the UK. It is expected that by 2021 almost one quarter of the population will be renting privately and it’s not hard to understand why. As property ownership becomes less and less common, many are recognising the benefits of renting in the long term.
Industry experts anticipate that the number of households renting privately will reach approximately one in four by the middle of the next decade, and a recent survey by the English Housing survey backs up the popularity of the sector with data that shows that one in five of us rent. Property consultancy Knight Knox carried out a survey at the end of 2017 which looked at, among other things, tenant’s reasons for renting.
The key reason for renting, as expected, was affordability – with more than half of renters saying that they rent as they can’t afford a deposit. However the research also indicated that many choose to rent for other reasons such as it suiting their lifestyle, not wanting to be tied down to the same location or property and not wanting the hassle that comes with homeownership. With this in mind buy-to-let in the UK offers one of the best investment strategies.
Whilst the new build and off-plan buy-to-let sectors continue to flourish as investors recognise the benefits of property investment in the UK, there is an uncapped market that many investors are starting to explore in order to maximise potential returns and streamline their portfolios. The resale of investment properties in the UK is a growing and buoyant market – buyers recognise the benefits that come from investing in a property that is already working as a successful investment, and sellers are keen to release equity through selling to likeminded, serious investors.
The 2016 English Housing Survey revealed that there are 2.5 million more households in the PRS than there were in 2000 and many of these are high-yielding properties, located in some of the UK’s best buy-to-let markets. With property prices in cities like Sheffield having risen over 30% in the last five years, and rents rising significantly as demand swells in urban centres particularly, buying a completed and tenanted property as a buy-to-let investment is a smart move.
Intus Residential is the UK’s first dedicated investment resale service, tapping into a market that benefits both buyers and sellers of UK buy-to-let investments. Intus Residential focuses primarily on the resale of premium buy-to-let properties in some of the UK’s fastest growing cities. Our specialist team of property advisors is well versed in the intricacies of UK buy-to-let, and can offer buyers and sellers a professional and supportive service to make sure both parties are able to make an informed decision about their investment.
If you would like to learn more about the UK buy-to-let market and how Intus Residential can help streamline your portfolio come and meet the team at the Leopold Hotel in Sheffield on Wednesday 21st February. Drop in anytime between 12pm – 8pm for free professional property advice.