If you are looking to enter the buy-to-let market in London, you can take confidence in the high level of demand. There are measures in place to help people step onto the property ladder, but there will always be demand for rental property in and around Greenwich.
Of course, landlords should research their options carefully, and rental yield is essential. If you are unlikely to make a profit or enjoy a positive return on your investment, you need to question whether this is a sensible move for you.
At Hunters Greenwich, we understand the importance of rental yields, and if you are looking for guidance on this topic, please get in touch.
Greenwich beats the London average for rental yields
The London average for rental yields currently stands at 4.1%, but in Greenwich, the average rental yield is currently 4.3%. This might only be a small increase on the average figure but when it comes to rental yields, small margins add up.
There are many positive reasons to invest in property in this part of London, but landlords and investors should always feel confident about their sums. Knowing there is evidence which indicates Greenwich is an attractive proposition for landlords is comforting, and should be considered by anyone looking to enter the London buy-to-let market.
Landlords benefit from the stamp duty holiday
Don’t forget that landlords can benefit from the stamp duty holiday. Yes, the additional 3% surcharge is still in place for landlords, but the stamp duty holiday also applies to buy-to-let properties. Therefore, landlords can save up to £15,000 when buying rental property, and this might be all the incentive some landlords need to start or expand their property portfolio.
Calum Brannan is the CEO of Howsy, and he said: “The commuter belt has always been popular amongst tenants searching for rental affordability within touching distance of the capital, but with many now facing more time working from home this trend looks set to intensify. However, landlords won’t be leaving London for the commuter hills just yet as this demand is yet to have a notable lift on rental prices and, as a result, yields.”
Calum continued by saying; “Of course, there are already some areas returning a yield above that of the London average, but for the time being at least, the capital remains a stronger market overall when it comes to investing in a rental property.”
It should also be remembered that the average rental yield can be bettered. There are many ways landlords can utilise their time, effort and money in a way that helps them enjoy a stronger return on their investment.
At Hunters Greenwich, we are pleased to say we have a track record of assisting landlords and letting professionals in and around the Greenwich area. If you are looking for guidance on how you can have the best impact when letting property, please contact us today and we will be more than happy to assist you.
If you need any help or guidance regarding property matters, please get in touch. As your local housing market specialists, we will do what we can to ensure you make your next house move in style. Contact Hunters Greenwich today for all your housing and letting needs.