The UK is experiencing unprecedented times and it looks like we are entering our first recession in 11 years. Recent studies show that cautious savers are putting away more in cash than ever before. But with record low-interest rates, these sums are fast being eroded by inflation. So what better place might there be for your money...property
Really? You might ask, Yes - Property offers long-term financial security for many reasons, not only capital growth as the property increases in value but also buying to let generates a second passive income. Who wouldn’t want a second source of income during these uncertain times?
Everyone remembers the Eat Out To help Out campaign where people were incentivised during the summer to help the hospitality industry get back on its feet. Our Rent Out To Help Out campaign encourages people who may be in a situation where they can buy a property to let. This not only increases the number of quality homes for people to rent - giving professionals what they need, but it also gives investors long term financial security. It’s a win-win situation.
Tenant demand is increasing at an unprecedented rate across the country. In fact, according to a survey by Rightmove tenant demand grew by 33% in May 2020 compared to the same period last year, so the chance of tenants drying up is very slim. As we battle with COVID19 the demand for properties with gardens and additional rooms for potentially working from home is greater than ever before as people try to adapt to the new normal.
Another consideration if you haven’t quite made the leap to become a property investor and landlord is reduced stamp duty. This aims to help the property market and is a great incentive for anyone on the fence, even if it’s just a temporary measure (the initiative applies until March 2021), since it means serious savings.
Stoke-on-Trent/Newcastle under Lyme continues to be a hot spot for property investment. There is a substantial amount of money being ploughed into the area to build new roads, new industrial estates and business parks. All this brings new jobs and new people flocking to the city all of who need a home to live in. The Royal Stoke University Hospital is the biggest employer in the area and during the pandemic, additional doctors and nurses relocated to Stoke-on-Trent and many have needed accommodation.
If you haven’t read our 6 reasons to invest up North click here
Rent Out To help Out
Rockett Home Rentals is the longest-serving letting agent in the area. We solely let and manage properties, we do not sell so we are 100% dedicated to our landlords and tenants. If you are thinking of investing in property to let, we are the go-to agent to call.