Rents Rise as Serious Landlords Stay Put

By: Markie Shephard

The average annual rent reached ?11,886 in February, up from ?11,604 in January, according to buy-to-let lender Paragon.

The lender's buy-to-let index found that rents rose by 2.4% since January and 5.2% over the past quarter. The average rental yield for February - the rental income expressed as a proportion of the property's value - was 6.3%, compared with 6.0% three and six months ago.

Paragon's research also showed the private rented sector continues to be dominated by large scale investors, with 13% of landlords owning 100 properties or more.

John Heron, director of mortgages at Paragon, said: "The message is clear - experienced landlords continue to regard property investment as a sound business, providing a roof over the heads of those people who through choice or circumstance, rely on the private rented sector for their accommodation needs.

"They hold their property investment assets for more than 10 years, and decide to buy or sell based on sound commercial considerations rather than short-term signals in house prices or economic sentiment. For more information on mortgages why not visit yourmortgage.co.uk, and get the latest information on how to save money and get the best mortgage and life insurance deals on the market, Also yourmortgage has a section for mortgage insurance and general insurance you can find this at yourmortgage.co.uk. The website covers topics including MPPI, Critical illness, Home Insurance and Income payment protection, Buildings Insurance, Life Insurance. Other websites including www.yourmoney.com, have very useful information that help consumers gain a better understanding of the products or services offered by websites."

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