Hi there,
As we move into the second week of May it’s pretty much the same story for the lettings market. High average rents, high tenant demand and low stock continues to drive a hot market.
The renters reform bill has now been delayed at the last minute and it will be interesting to see over the coming days on what stories get released on why this has happened.
Below is an update on the South East market, buy to let mortgages, top investment properties and some news stories you may be interested in. Read on for more details.
South East rental stats – 1st May 2023 to 11th May 2023
3712 new instructions on the market with an average asking rent of £1484.00pcm
3075 lets agreed with an average rental price of £1541.00pcm
GU and RG postcode areas sitting 2nd and 3rd in the table for new instructions and lets agreed and are areas that outperforming most in the South East
If you have a property to rent or are looking to buy and investment property in the South East then get in contact with me and I will be able to tell you statistics for that type of property in that specific area to give you an understanding of what your property can achieve or if your investment would be worthwhile.
Top Buy to let interest rates as of 11th May 2023
Investment properties of the week
Check out this studio flat located in Upton Park which is just on the Slough/Windsor border. Rental price of £850pcm could be achieved on this one giving a potential yield of 5.3%. Click here for details
This is a 2-bed terraced house in Reading. These types of property are the most in demand from Tenant enquiries coming through and this could achieve a rental of £1400-£1450pcm giving a potential yield of 5.1%. Click here for details
A 3-bed property in a great location that has the potential for refurb and extend (STP) and offers many benefits. Could achieve a rental of £1700 in its current state giving a potential yield of 4.6%. Click here for details
A 4-bed terraced property within a short walk of Bracknell Town Centre that could achieve a rental of £1800-£1850pcm giving a potential yield of 5%. Click here for details
Other news
Tenant Demand is at an all-time high according to research carried out on behalf of Paragon Bank. Click here to read more
The renters reform bill has been delayed at the last minute with reasons still unknown but maybe its to do with an inside rebellion led by tory Landlords. Click here to read more
Great guide here for Landlords to understand what fair wear and tear is and what can be claimed for at the end of the tenancy. Click here to read more
Is this good news for Landlords and Investors? The build to rent sector seems to be stalling. Click here to read more
Advice Hub and Landlord page
Check out our advice hub on our website where you will find useful information and videos to do with sales and lettings and check out our Landlord page to find out more on how we do things differently to a traditional estate agency and request an instant, virtual or in person valuation.
Click here for our Landlord page
Click here for our advice page
Again, If you need any help with anything Lettings, Investments or Developments then get in contact with me and I will be more than happy to help. Make sure to follow our socials and podcast, so you never miss out:
Thank you
Avocado Lettings Director
Tel: 07585 913 564
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