Pictured above: Dawn Clarke, Director for Nock
Deighton
A local firm of leading property specialists point to two recent
announcements as evidence of good news for the buy-to-let market in
Shropshire.
Shropshire-based lettings and block management agents Nock
Deighton believe that the outlook across the county mirrors new
figures released, which reveal a steady increase in tenant
demand.
The latest Royal Institution of Chartered Surveyors (RICS)
Residential Lettings Survey found that 42% of surveyors reported
rents were up in the three months to April, whilst 35% also
reported an increase in tenant demand - the highest level for more
than two years.
"We've seen a continued growth in the number of new
investor-landlords we've been dealing with over the past few
months," Dawn Clarke, Director for Nock Deighton, and Head of
Lettings and Property Management for the firm, revealed. "Not only
are many taking advantage of the relatively low and stable interest
rates, but also the shortage in supply of available properties
throughout Shropshire needed to meet the continued demand for
high-quality houses."
In another boost for the buy-to-let sector, the average void
period - the amount of time where a property is left without a
tenant - has dropped to its lowest level in more than two years and
fallen for three consecutive quarters. Research for the first
quarter of 2011 by Paragon Mortgages revealed that average void
periods across the private rented sector stood at just 2.8 weeks
per year, a steady decline from the high of 3.5 weeks posted in the
second quarter of 2010.
"This can be attributed to the growing number of potential
house-hunters who are choosing to rent, rather than buy outright,
at this current period of time," Dawn concluded.
Formed in 1831, Nock Deighton is one of the Midlands' most
well-established and respected firms of estate agents, lettings
agents, chartered surveyors, block management agents, and
auctioneers. The company stands at the forefront of the modern
property sector by embracing up-to-the-minute technology and
industry best practice, and has a firm focus on achieving the very
best results through a full range of specialist property-related
services and dedicated staff.