Perren Property- Peek of the Week
Rents rising at fastest level since records began
Rents across England and Wales rose faster in July than in any month since records began in 2009.
The latest Buy-to-Let Index produced by agents Your Move and Reeds Rains shows rents rose from £789 in June to £804 in July – a 1.9% jump.
Tenants are now also paying on average 6.8% more than they were a year ago – the largest annual rise on record.
This got me thinking about our local property market and why now is such a good time to buy and invest in Dorking. If you read my August newsletter you will see my simple trick of the trade to find out when and where is good to invest. (If you would like a copy of my newsletter please let me know and i'll email to you firstname.lastname@example.org)
As I do every morning, troll through Rightmove and have a look at what Dorking and the local area have to offer. One particular property caught my attention. Its currently on the market for offers in excess of £275k. Lets say you agree a price £280k you’ll easily achieve a monthly rental of £1100pcm that’s 4.7% yield.
I don’t think it will stay around for long!
Should you wish to discuss any specific properties or just a general chat re the current market, please contact me on 07794056668
P.S - If your struggling to get tenants through your door, I would be happy to take a look at your Righmove listing and offer free help to get things moving.