Why Investing in a Buy-to-Let in 2023 is a Smart Choice
It’s widely known that buy-to-let property investment has experienced remarkable growth in recent years, and 2023 promises to be the best year yet. The sector is reaching unprecedented heights, driven by a consistently increasing demand for rented properties and an impressive projected house price growth of 13.3% in the Midlands. Without a doubt, there has never been a more opportune time to venture into the buy-to-let market. Drawing insights from various reliable sources, we present a comprehensive outlook on the rental market, highlighting all the compelling reasons to dive into this venture.
Addressing the Buy-to-Let Market Gap
In June, the gap between the demand for quality rental housing and its supply continued to widen, indicating an ongoing issue in the market. With rental demand surpassing the previous year by a significant 10%, each available property is swiftly claimed by eager tenants in search of top-tier rental accommodation. Consequently, rental prices have consistently risen for the past 12 months, with a staggering increase of over 10.4%.
Looking ahead, industry experts predict that rental prices will continue to soar in the next 12 months due to the persistent disparity between rental demand and housing supply. This projection underscores the urgent need for increased investment and decisive action in the housing market to bridge this gap and provide superior rental options for tenants.
The Appeal of Investing in New-Build Homes
The government recently announced a mandate for all rented properties to achieve an EPC rating of C or above by 2028. Many second-hand properties will struggle to meet this target without costly improvements. In contrast, new-build properties already boast an EPC rating of C or higher, with most even exceeding a B rating. This makes them an immensely attractive choice for tenants over second-hand homes.
Investing in a new build rental property offers the advantage of minimal maintenance, as these properties are brand new and ready for occupancy. Our dedicated lettings team ensures a seamless experience for tenants, allowing them to move in swiftly and effortlessly. Furthermore, you retain the flexibility to choose whether or not you wish to visit the site, confident in the knowledge that our team will handle all aspects of the rental process, from tenant placement to key handover.
In summary, investing in a new build rental property in 2023 presents an opportunity to secure substantial returns while enjoying convenience and peace of mind. With a property that requires minimal maintenance and the support of a dedicated lettings team, you can confidently relish the benefits of a hassle-free investment.
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