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Market turns to the North West to lead the way

I think it is fair to say that each and everyone one of us are truly fed up with this gloomy, wet and not very warm weather. We are half way through Spring and I can only recall one spring day here in Tattenhall!

 I hear that the next few weeks are set to improve and get warmer and sunnier, and with the arrival of our new baby Prince (on my birthday!), I think we will all feel a little brighter, I know I certainly will.

Although we have been keeping busy here at EC Lettings, with lots of prospective Tenants in the market place, we are letting houses that haven’t even been marketed, which is great news for Landlords eager to get their properties quickly.

 We have had some really interesting properties come to the market, all of which are generating lots of enquiries. So it certainly seems that even in the middle of “selling season”, when the weather is not helping or inspiring, the lettings market is very buoyant.

 The media is full of various changes in law, to further penalise Landlords and Letting Agents, all of which are being consulted at the moment. I predict a busy Autumn with various changes that will affect us all and higher degrees of regulation. I will of course keep you posted and will be writing to my clients directly to keep everyone fully up to date.

 I often get concerned how this will affect my market and clients, but I have come to realise that whilst change is often hard to accept, it can often be for the best, and one soon adapts and gets used to it. I will keep you posted with some finer details and will be adding any relevant legal updates to our website in due course.

Other news is that buy-to-let landlords are being advised to turn to the North West of England in a bid to increase their annual yields following the release of the latest UK Cities House Price Index from Hometrack, this week. The index reveals that house price inflation is up 5% this year from 4% last year, led by gains in Edinburgh, Birmingham and Manchester.

Property prices in other parts of the North West, where some buy-to-let landlords are still achieving double-digit rental yields, have also increased, supported by low mortgage rates, high rates of employment, and growing demand from buy-to-let investors.

So until next time….when we will all be bathed in sunshine and feeling much brighter and warmer.