 Property |
| Search News |
|
|
| Find an IFA |
|
|
| Browse |
|
| UK Spotlight |
It has been revealed that the Chancellor Alistair Darling held talks with some of the UK largest banks yesterday in a bid to try and avert a banking crisis in the UK. The meeting was attended by...
→
Read More
|
|
| Disclaimer |
| Financialadvice.co.uk adheres to the Financial
Services and Markets Act 2000. This site contains only factual and
readily available public information. |
|
|
| |
|
|
|
|
Wednesday 2nd May 2007
Buy-to-let landlords who have invested in Wales will have been pleased to see massive returns on their property, as rents have increased by a massive 33 per cent over the past quarter, according to Paragon Mortgages' latest buy to let index.
The average annual rent that a landlord asked for in Wales has increased by 32.7 per cent between December and March, pushing it to £11,251 on an average property worth £158,239.
Latest statistics show that Wales is the only area of the UK where rental yields are over seven per cent of the property value and in March Wales was the second best region for total returns, generating 25.6 per cent on average.
Not only that, but Welsh property prices have also inched up by 18 per cent.
Paragon Mortgages' managing director John Heron commented: "Rents are rising strongly in Wales, but so are property values, although to a slightly lesser extent. On the back of that, investors have been enjoying steady rises in rental yields over the past few months, up from 6.3 per cent to 7.1 per cent in one quarter.
"With a positive economic backdrop underpinning growth in tenant demand, it is not surprising that Wales is the country's top performer in terms of yield."
|
→ Full Property News Archive
→ Return to Homepage |
|
|
|
| Other top stories in this section:
|
|
|
|
