A study undertaken by a specialist rental platform, Ocasa, suggests the average buy-to-let investor, in the United Kingdom, has a portfolio of 8.2 properties. This represents a 17% rise on 2021, where the average property portfolio stood at 6.9 properties.
With respect to the North East of England, the average property portfolio stands at 10.8. This is behind Yorkshire and the Humber, where the average portfolio stands at 15.5, but is greater than the East Midlands, where the average property portfolio stands at 10.5.
The average gross rental income of the average rental property has risen to £7,891, an increase of 0.5%. The average buy-to-let portfolio rental income stands at £63,917, which represents an increase of 18% on the 2021 figures.
Jack Godby, Sales and Marketing Director at Ocasa, commented: “It’s great to see that, despite the UK Government’s best efforts, the buy-to-let sector has really hit the ground running in 2022. Like any area of the property sector, investment levels, property prices and rental values can vary drastically from one region to the next and this understandably has an impact on the size of a buy-to-let portfolio, the rent achieved per property and the overall return made. However, it’s clear that strength is building across the market with respect to an increased level of income. The fact that only two regions have seen the average portfolio size reduce is also a testament to the resilience and consistency of bricks and mortar as an investment vehicle.”
We know the North East markets well
Whether you are looking to buy property in Darlington and the North East to let, or you are a tenant looking for the ideal property in this part of England, we can help. In fact, no matter what assistance you require in the North East housing market, we are here to assist you.
If you are looking to develop a property portfolio, this is an excellent time. Demand for rental property is high, and likely to increase further.
The following steps will help you find and build a property portfolio:
Find the right property
The first step to achieving success when renting out a home is to find the right property. This means finding a property that is in a good location and is in good condition. The property should also be priced competitively in order to attract tenants.
Screen tenants carefully
Another important step is to screen tenants carefully. This includes running a credit check and verifying employment information. It is also important to get references from previous landlords. By screening tenants carefully, you can help to ensure that you are renting to responsible and reliable people.
Maintain the property
It is also important to maintain the property on a regular basis. This means making sure that any necessary repairs are made in a timely manner and that the property is always clean and presentable. By maintaining the property, you can help to ensure that it remains in good condition and that tenants will want to continue renting it.
Respond to tenant needs
Finally, it is important to respond to tenant needs in a timely and efficient manner. This includes addressing any concerns or problems that they may have in a prompt manner. By responding to tenant needs, you can help to create a positive relationship with them and keep them happy in their rental unit.
We are pleased to say we can assist with these steps, and a whole lot more.
Contact Anthony Jones for all Darlington property matters
If you are looking for help with any matter of the Darlington property market, it is best to speak to property professionals. No one knows for sure what is going to happen next, so we won’t claim to have all the answers, but the Anthony Jones team is keen to help you as best we can. If you would like to contact us over housing matters, please call us today on 01325 776424.
