COTSWOLD Let’s talk Moore
YET landlords who hang on to their portfolios look set to reap the rewards as competition for properties remains strong and rental values hold firm, says Paul Oughton of Cotswold lettings agent, Moore Allen & Innocent. Many landlords who are worried about the
threat of inevitably higher borrowing costs may be considering offloading properties from their portfolio. The already announced and potential further changes to property taxes in the forthcoming budget and the introduction of more and more regulation to the residential lettings sector is also making investors think twice about keeping their properties. Yet it might be worth staying in the rental
property market: the percentage of adults renting - according to industry and Government figures – remains at its level highest for years, and shows no signs of reversing. Many are young people priced off of the housing ladder, or those who have
realised they might not be able to afford to buy the house of their dreams – even with the Government Help to Buy scheme - but they can certainly afford to rent it. In addition some families have ‘stepped off’
the housing ladder, either because the house and location they desire remains financially out of their reach or because changes to family circumstances or lack of job security means that a house move, with its associated stamp duty and other costs, is simply not justified. As some nervous landlords choose to move
out of the property lettings market this year, the net result will be more potential tenants chasing fewer rental properties. In addition, the lack of affordable mortgages and high deposit ratios for potential first time buyers, as well as uncertainty over future interest rates, has meant more people stay in private rented homes for longer. This further reduces the supply of available rental properties, and already, letting agents such as Moore Allen &
Properties
A potential increase in borrowing costs and improving house prices together with changes to legislation and taxation may make a move out of the lettings market an attractive prospect.
Innocent are predicting good support for rental values this year for sought after properties. Evidence suggests that the buy-to-let market
has successfully weathered the property downturn since 2008 and that it has retained its appeal amongst investors willing to take a longer term perspective. For those able to resist the temptation of abandoning the lettings market, the financial implications are attractive, whether as a standalone investment or as a diversification away from more traditional pension planning routes. Moore Allen & Innocent have been
successfully letting and managing property for years and our reputation speaks for itself. The fee structure is simple and competitive whilst our service is professional, comprehensive and tailored to the needs of the individual Landlord. We are experienced in providing landlords
with all kinds of information and intelligence about an area, either prior to buying or for
those who already own properties, and we know how to make the most of the selling points of a particular area or property. Coupled with excellent local knowledge and a personal, friendly approach, it all adds up to a quality service and peace of mind for you. For further information and a no
obligation chat on letting or managing your property, please contact Paul Oughton and Issy McCarthy at Moore Allen & Innocent in Cirencester on 01285 648 118 or Lorraine Kyte and Nancy Haughton in Lechlade on 01367 253 138 or email:
lettings@mooreallen.co.uk
Inspiring life in the Cotswolds
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