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Landlords improve homes for more returns
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
The property market is enjoying its best period since the recession. As a result, house prices are rising at a considerable rate across the United Kingdom. Estimates have indicated that property prices in London could rise by around a substantial seven percent per month. This in turn means buy-to-let investors are beginning to reap the rewards of their purchase.
Improvements
With value now being achieved on a number of rental properties, landlords are beginning to make home improvements to further extend their returns. Home and landlord insurance policies have also seen a rise, with many investors more willing to part with their cash in the steadier economic climate.
Landlords improve homes for more returns
A recent survey of two-thousand homeowners from property website Zoopla suggests that 42% plan to carry out improvements in the next six-months. Zoopla spokesman Lawrence Hall said that homeowners are now more inclined to go, ‘one step further this year,’ and plan to, ‘invest in more substantial home improvements.’[1]
He went on to say that, ‘as properties receive more and more viewings from interested buyers, smart sellers are seeing all the signs of strong demand in the market,’ with them, ‘looking to capitalise on potential capital gains.’[1] Hall added that it seems that, ‘confidence in the property market recovery is finally filtering out of London and across the U.K.’[1]
Confidence
Hall suggests that there is reason for optimism for the coming months. He stated that, ‘With prospective sellers eager to take advantage of a buoyant market and buyers wanting to snap up the best properties before they slip out of reach, indications suggest the market will remain strong over the coming months as increased supply and buoyed confidence drives activity on all rungs of the ladder.’[1]
Halls optimism was echoed by Peter Rollings, chief estate agents Marsh & Parsons. Mr Rollings said that, ‘the volume of property sales in March was almost a third higher than same month last year,’ a sign that, ‘people are brimming with renewed confidence in the economy.’[1] Rollings adds that, ‘wages up, inflation down, and many people feeling better off than they have done in years, this is encouraging people to make their first property purchases and oiling the wheels of the market at all levels.’[1]
