Following the changes in stamp duty legislation, the buy to let market has become increasingly subdued. The supply of residential rental properties in the UK has continued to fall, which was expected. However, what’s worrying is that it has come at a time when demand is increasing.
Overall, the number of rental properties managed per lettings agents branch increased by 8% in April to the highest level this year but is down from April 2015, according to the data from the Association of Residential Lettings Agents (ARLA).
Supply still stands at 5% lower than in April last year and continues to fall year on year. In April 2015, the average number of properties managed per branch was 193, this year it stands at 183.
This is driving up the cost of renting a home, meaning that there has never been a better time to buy!
At Inspired Homes, we have residential developments in property hotspots including Croydon, Epsom, Sutton, Crawley and Chertsey.
We are dedicated to helping first time buyer in particular, to get onto the property ladder, which is why we have help to buy in place. This means that one of our apartments could be yours for just a 5% deposit.
If you’re not sure what we’re all about, we build design-led apartments that feature the latest home technologies such as Sky television and fiber optic broadband.
We also make sure that our residents experience that community feeling by building extensive resident facilities which, so far, have included sky gardens, cinema rooms and business lounges. To find out more, please contact our team on 020 8688 6552.