regional market view East Anglia lets set to increase
The number of new properties entering the rental market looks set to increase in
2011, according to JSM Property, based in Norfolk, Suffolk and Cambridgeshire. JSM saw a 60 per cent drop
in the number of new properties becoming available to rent in the first part of 2010, but the latter part of this year has started to see growth in the number of new properties available. JSM Managing Director,
Jeremy Prior, said, “This trend looks set to continue. The market has been boosted by improved mortgage provision for buy-to-let investors. For example, Santander are now offering a finance product for investors and this will make a property purchase more accessible for first-time
investors, as well as those looking to re-enter the market. “We’re also expecting to see
increased stock being available next year for those investors. As well as increasing levels of repossessed properties, we expect developers who have been unable to sell property in volume being forced to make distressed sales to investors. These are likely to be low to middle market developments of flats and apartments – an ideal buy-to-let investment.” Jeremy Prior also predicts
the number of tenants will remain constant; “I can see the stock levels of available property returning to the levels we saw in 2008 and landlords with the right product at the right price will be able to let fairly easily. Consequently, I forecast a 10 per cent gross rental yield becoming a real possibility for canny investors.”
commercial Young Group to sponsor IPD
Residential Investment Index with other asset classes. One of the most striking
Young Group has announced a three-year sponsorship agreement with property performance analyst IPD (Investment Property Databank), the world’s leading commercial property performance measurement company. Since 2000, IPD has been collecting, analysing and reporting on residential property performance to create the IPD Residential Investment index. The data is principally supplied by the large property owners, such as Cadogan Estates, Grosvenor and Grainger. The results not only focus on returns but also analyse costs of running the portfolios, including digging down into the detail and showing some great comparisons
conclusions is not only that residential property returns tend to outperform other assets classes but also that their risk profile is lower than most other asset classes as well. Neil Young, CEO of Young Group commented on the deal. “We are very proud to enter into this sponsorship agreement with the IPD UK Residential Investment Index. Over the last few years there has been a growing interest, from large scale investors, in residential property as an asset class. However, little has come to fruition.
“The IPD residential results do
support what a lot of us have seen, and personally benefited from, that residential is a very safe, and profitable, asset class in which to invest.”
www.ipd.com
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PROPERTYdrum FEBRUARY 2011 35
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