Rental market continues to grow in Gloucestershire and Worcestershire
The local rental market continues to grow in Gloucester, Stroud, Cheltenham and Worcester – month on month, the number of Lets Agreed by The Property Centre is almost double the national average so far this year.
According to the latest data from the Agency Express Property Activity Index, properties let across the UK were up 6% month-on-month – but Lets Agreed by The Property Centre have seen an average 13% rise month on month since January this year.
Mirroring the increasing demand for rental properties, the number of Buy To Let approved mortgages has also risen considerably since July this year, proof positive that the Buy-To-Let market remains buoyant.
HomeLet data shows that rents are on the rise too, up 3.1% in the South West over this time last year. In terms of rental yields, we’re also seeing record highs in terms of the average yield that landlords are reaping, with the average now reaching 4.5% up from last year, the highest it’s been in three years.
If you’re looking to increase your rental portfolio or want more information about our range of Lettings and Property Management services, contact our dedicated team today.