How is the English private rented sector faring against that of many other countries? The short answer is, very well – certainly according to one measure that especially caught our eye lately.
As recently discovered by a property management company that undertook an analysis of the size of England’s rental market alongside the GDP of several entire countries, the combined annual value of the former is an estimated £66.7 billion.
A sign of the sector’s continued impressive health
The firm arrived at this figure by first looking at the average rent paid each year in both the private and social rental sectors, before multiplying these numbers by the total number of households in each sector.
According to the study, more than 4.5 million private tenants pay an average annual sum of £10,128, compared to the £5,304 typically paid each year by over 3.9 million social renters. This works out, as aforementioned, as £66.7 billion for the combined annual value of England’s rental market as a whole.
Such a figure places the English rental market alone above the entire GDP of global nations like Ethiopia, the Dominican Republic, Oman and Luxembourg.
It certainly paints a picture of a buy-to-let sector that is continuing to prove its resilience on a backdrop of ongoing economic and political uncertainty in the UK.
Not only did 2018 see every English region record higher than average investment volume, but investment in the North West – where Yellow Oak Inventories LTD will soon establish a presence in Manchester – even reached its highest level since 2007.
Regional cities like Manchester and Liverpool have also experienced heightened levels of investment from overseas. In addition, it was revealed late last year that rents in Leeds, Birmingham and Manchester were going up faster than the national average, leaving them well-positioned to continue recording formidable rental market growth figures and healthy yields.
We can help you to make the most of the great conditions
With the English rental market looking especially strong outside London in 2019, if you are in need of an inventory in Manchester, London or Birmingham for any property in your own buy-to-let portfolio, you can have the utmost confidence when you select Yellow Oak Inventories LTD.
Email email@example.com or call 020 3713 4933, and as a responsible landlord, you will soon be able to feel the benefit of our fully regulated, independent and professional service.