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Sheffield Property > Latest News > 'Yields For Buy To Let Landlords Strengthen’ Claims Belvoir Sheffield

'Yields For Buy To Let Landlords Strengthen’ Claims Belvoir Sheffield

Posted on Friday, 13 July 2012 11:35AM by Belvoir via Artful Lodger
New figures revealed by the PRS Survey have found that landlords reported an increase in yields during the second quarter of the year, figures which Belvoir Sheffield, the leading letting agents in Sheffield say should encourage more would-be landlords to the market.

According to the new figures, Landlords achieved an average yield of 6.5 per-cent, which is an increase on Q1 where the average was 6.2 percent, and on the same time period last year where the average was also 6.2 per-cent.

 
Rick Flay from Belvoir Sheffield, which specialises in providing flats to rent in Sheffield said: “A rental yield is a property portfolio’s annual rental income as a percentage of its total current value.   Here in Sheffield we are finding that landlords are very happy with the yields they receive and these new figures support this view.


“Some of our landlords who have bought properties in Sheffield recently are getting yields of 9 per-cent or more, and when this is coupled with relatively cheap purchase prices compared to other cities, Sheffield is a very attractive place to buy investment property .”

 
As part of the report, landlords were asked about tenant demand. Just over half (55 percent) of landlords said that, for the moment, demand appears to be stabilizing, and  more than a third (36 percent) believed that  tenant demand is growing.

 
Rick, whose lettings agency helps those wanting to rent property in Sheffield, continued: “Over the last few months the market has found itself in a battle of supply versus demand, with demand being much higher than actual number of properties available.  Last year we saw a bidding war in certain areas of the UK for desirable properties.  This strong tenant demand placed an upward pressure on rents, and yields have strengthened as a result.

 
 “These figures demonstrate just how buoyant the property market really is, but I would advise any first time landlord to contact us for the very best advice.  Many first time landlords underestimate the amount of work involved in managing a successful portfolio, so it makes sense to find out the full picture before taking the plunge.”
 

Belvoir Lettings Sheffield is the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs, Investment Property Insurances and Mortgages

For more information, please visit: www.belvoirlettings.com/sheffield
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