Figures from the Association of Residential Letting Agents (ARLA) suggests that the number of people letting out properties because they have been unable to sell has dropped to a record low.
Over the last few years the property rentals market saw an upturn in ‘accidental landlords’. This is a landlord not by choice, but rather through circumstance. Perhaps a property they owned was struggling to sell, or perhaps the market value of a property prevented the owner from moving on themselves. Renting out their existing home allowed many people to buy another home without selling their property, or allowed them to keep hold of a second property until such time as the market improved.
Figures from the Association of Residential Letting Agents (ARLA) latest quarterly report however now suggests that the number of people letting out properties because they have been unable to sell has dropped to a record low.
Ian Potter, Managing Director of ARLA, said: “The resurgence of property prices and buyer demand in many areas is reducing the number of so-called ‘accidental landlords’. Despite the reduction of landlords in this situation, wider investment in rental properties remains strong across the market. The shape of the private rented sector is changing once again, with long-term landlords returning to the fore.”
The percentage of letting agents seeing rental property becoming available because it cannot be sold has fallen to 13 per cent. The number has been gradually reducing over the last 4 quarterly reports and at the start of 2009 the figure was an incredible 94 per cent.
ARLA also found 45 per cent of landlords let a property to earn a rental yields int he short term and capital growth in the longer term and 37 per cent also revealed they saw their rental property as a nest egg for the future.
Whether you have a single property or a portfolio you need a team you can trust. Ryder & Dutton’s Lettings Department work to make letting your property as easy and stress free as possible. Our aim is to do the simple things right, maximising your income, lowering your risk and giving you peace of mind.
We can provide a full management service or a tenant find only service. For any advice regarding renting your property out speak to us on 0161 626 6800 or visit the website for more information.
People diverted their attention from finding their dream home to watching the action at Aintree on Saturday afternoon.
Traffic to the website via desktop fell by 15% when Pineau De Re took the title around 4.30pm.
People searching on mobile devices stopped too, with a 12% dip recorded.
By 4.45pm traffic was back to normal levels, perhaps with a lucky few checking out what they could afford to buy with their winnings.
It’s arguably the most famous race in the world, so it’s no wonder the nation temporarily swapped their house-hunting for horse racing on Saturday afternoon.
There were over two million visits to Rightmove, the UK’s busiest property website, throughout the day on Saturday by people searching for their dream home.
The appeal of the 167th Grand National saw a temporary 15% dip in traffic via desktop and a 12% dip by people using mobile devices, as the race gathered pace and ended in victory for Pineau De Re.
Head of Communications at Rightmove, Matthew James, commented:
“This isn’t the first time that we’ve seen a stand-out sporting event hit our traffic. It happened last year when Andy Murray served for Wimbledon glory and in 2012 when we picked up three dips on Super Saturday which tallied perfectly with Greg Rutherford, Jess Ennis and Mo Farah winning gold. These are national distractions which show up as blips on our traffic charts, but it doesn’t take long for people to come back after the event finishes, especially as more and more people are searching Rightmove using their mobile. Although the majority who had their annual flutter on the race probably didn’t win a life-changing sum or anything at all, there might have been a lucky few who were able to up the price band for the home they’re looking for when they returned to Rightmove!”
Original Article: Rightmove
This winter has been the wettest winter since the national series records began in 1910, but house hunters enthusiasm was not a wash out!
As February reached a close the provisional rainfall figures are released from 1 December 2013 to 25 February 2014, and this information confirms that the UK has had its wettest winter since the national series records began in 1910!
We are sure that this doesn’t come as a great surprise to you!
New records have been set for many parts of the UK, with southeast and central southern England having seen well over double the rainfall expected in a normal winter. Perhaps here in Greater Manchester and West Yorkshire we were slightly luckier than those in the worst affected areas, however we certainly saw our fair share of the rainfall.
The rain however didn’t seem to deter house hunters from the property market as we saw our busiest December on record selling more houses in December 2013 than any December previously.
Between 22nd December and 21st January the Ryder and Dutton website averaged over 3000 visitors per day and Rightmove statistics showed the first two weeks of 2014 revealed nearly a 20% increase in the number of property pages viewed based on the same period a year ago.
Nationally house hunters made more than 1.75 million enquiries via Rightmove in the first two weeks of 2014, which set a new year record.
If you are looking to move in 2014 now really is the time to start thinking about marketing your home.
We are seeing increased activity levels and new buyers returning to the market making this an ideal time to start the marketing. By arranging a free market appraisal of your home we can offer you some practical advice specifically about your own home and the local market around you. It’s also a fantastic opportunity to meet our Valuers and get the answers to any questions you may have.
The afternoons are starting to stay light just that little bit longer and the house hunting spirit is in the air after such an impressive couple of months!
If the rain over the new year didn’t dampen buyers spirits what is to stop you now?
Don’t forget our Mossley Office open day is on Saturday 5th April 2014 between 10am and 4pm.
Call in for advice about buying, selling, mortgages, surveys, removals and much more!
Ryder and Dutton were at The Middleton Arena on Wednesday 2nd April along with Winning Pitch Sales Academy for an Apprenticeship Event to help young people prepare to enter the workplace.
The Mayor of Rochdale attended and spoke to the young people about the value of apprenticeships.
Hosted by the Winning Sales Academy, selected young people were being interviewed for upcoming apprenticeship opportunities with Ryder and Dutton Estate Agents (Relocation Agent Network’s Regional Award Winner 2013) for their local branches.
Pictured are Director and Directors Assistant from Ryder and Dutton Richard Powell and Deborah Cliff and the Mayor of Rochdale Peter Rush. Business Consultants from Elizabeth Jane Consultants in Rochdale were also on hand to help the candidates prepare for interviews.
The Winning Sales Academy are helping young people across Greater Manchester take their first steps into employment.