London, United Kingdom (9th January, 2013) – MeetMyAgent.co.uk, an independent estate agent review and rating website, comments on the recent rise in buy-to-let activity across the UK and how homeowners can help ensure they make an effective investment.
Due to ongoing challenges in the property market, with housing prices around the country set to remain stagnant or fall, and signals of only tentative improvements in the economy in 2013, thousands of UK homeowners have decided to invest in the only sector of the housing market that is growing: buy-to-let (BTL).
Average UK rents have risen by 13.6 per cent since 2009, according to property advertisement website Rightmove, while capital values in most locations – with the exception of London and the South East – have remained the same or fallen.
The number of UK households choosing to rent rather than buy has also increased in the last decade, from 31 per cent to 36 per cent according to the latest Census figures, and in big cities, such as Cambridge, Manchester and Aberdeen, there is huge demand for rental properties. London in particular has become the UK’s lettings market hub, with more than 45 per cent of all households renting.
A spokesperson for MeetMyAgent commented: “When we consider the growing tenant demand and rising rental rates, it is little wonder that homeowners across the UK are recognising this sector as a sound investment – even in troubled economic times.
“However, it is important to remember that landlords will need the help of both estate and letting agents when purchasing a BTL property, and not just one or the other.
“Landlords should definitely seek the expertise of an independent letting agent that is not affiliated with the estate agent you are purchasing through to get an appraisal of rental costs.
“This will ensure that you receive an accurate and independent valuation, and will help you decide if you are making the most of investment. Landlords should also allow for void periods and other incidental costs such as repairs when calculating their return.
“Despite a relatively unexciting economic outlook for the property market this year, it is good to see that homeowners are unafraid to invest in BTLs and we hope that the increase in BTLs will help to drive the property market forward in 2013.”
For more information on MeetMyAgent and their services, visit their website at http://www.meetmyagent.co.uk.
MeetMyAgent.co.uk is a London-based company specialising in independent estate agent reviews and ratings to help homeowners find the best estate agents for property sales or lettings. MeetMyAgent.co.uk’s website is simple and easy to use; a user simply types in their area or postcode and then can read independent, objective reviews and ratings from previous clients who have used estate agents in their area.