Despite the doom and gloom of tax implications for landlords with mortgage interest tax relief gradually being cut back to 20% between 2017 and 2020, and a ban on tenant fees, the lettings market remains lively in our area. Demand from tenants also increased significantly, with the North West region seeing the greatest number of prospective tenants register and it’s therefore crucial that supply keeps up with demand.
Recent figures released by ARLA (the professional and regulatory body for letting agents) shows investors are still increasing their portfolio ensuring the supply of properties. Year on year, this figure has increased by four per cent and in July the supply of rental stock marginally rose.
In what are difficult and uncertain times for all sectors after the EU Referendum we at Petty’s are confident that the lettings market for both investors and tenants is looking healthy. If you’d like any information regarding lettings please don’t hesitate to contact us.