8
Apr
Buy-to-let properties in London 'getting good income'
People who have property to rent in London are enjoying good
rental incomes at present, new figures suggest.
According to research commissioned by findaproperty.com, there are
only two boroughs in the capital where the average asking price for
rent is less than £1,000 a month, the London Evening Standard
reports.
In addition, the typical annual cost of renting a house or flat in
the city has broken the £20,000 barrier for the first time,
the firm noted.
The study also revealed that the most expensive places to rent a
home in London are Kensington and Chelsea, where average monthly
payments come to £3,482.
According to Nigel Lewis, a spokesman for findaproperty.com, the
increase has been led by a decline in first-time buyer
purchases.
He added: "Demand for rental property is strong and that is pushing
prices up."
Recently, the Association of Residential Letting Agents said the UK needs more buy-to-let
properties to come on to the market.
