If any more evidence was needed that now is definitely the time of the buy-to-let landlord rather than the first-time buyer, it is surely in new figures released by a prominent survey and valuation firm. It will make encouraging reading for many of those considering or currently taking advantage of Yellow Oak Inventories LTD’s expertise as a property inventory provider.
According to the data, buy-to-let valuations were up by a third in May compared to the same time a year earlier – with the same period seeing a 4% slide in the number of valuations for first-time buyers. It was a similar story on a month-by-month basis – while there were 2% fewer first-time buyer valuations in May than in the previous month, there was a 3% increase in buy-to-let valuations.
The figures paint a picture of a booming buy-to-let market, in which existing landlords seek to add to their portfolios while others look to become landlords for the first time. First-time buyer activity, though, was sluggish – not only in the context of the wider property market, but also compared to the situation in April. This was despite the weeks leading up to the election being especially uncertain ones for those looking to buy a home.
As fewer people search for a home of their own, however, more of them decide to remain tenants – a situation that is undoubtedly benefitting landlords. As well as the current market trends in favour of landlords, another thing that is clear is the very real need for a professional property inventory.
An impartial and detailed inventory recording the exact state of your rental property at the time of inspection is an invaluable tool for avoiding any disputes between you and your tenant when the tenancy comes to an end.
Yellow Oak Inventories LTD is a truly independent party, and can provide the complete property inventory in Milton Keynes – consisting of a report supplemented with digital colour photographs – to give you the ultimate peace of mind ahead of your next tenancy agreement, whether you are a new or current landlord.