Landlord report – April 2015

. by James Laurence Estate Agents

Reading time: 1 Minute

Birmingham rental prices continuing to grow

 

 

Continuing from March’s low cost buy-to-let mortgages which are fuelling the demand for property investments in the UK, April has seen the city rental market increase by 2%. Rental prices have increased by £25.13 on average, over the last month.

 

 

 

Within the city the rental market is still very strong, with not only an increase in the percentage of properties let in the most central (B1) postcode, but notably the average let price now up to £985.19.

 

 

Whilst the common perception that demand is outstripping supply is often not the whole story, the astute investment properties are still being snapped up quickly in the marketplace, see example of The Qube, Edward Street, Birmingham city centre. With a £650pcm return providing a rental yield of around 7%.

 

 

It’s not just the city,

 

 

“Harborne rental prices have continued to rise last month”

 

…(based on the B17 postcode), as 7 in every 25 three bedroom (very typical in the Harborne area) properties under offer, which is an increase of 5.3%.

 

The introduction of pension funds reforms in the new financial year adds another style of investor- the buy to let pensioners. Indeed recent research by IPSOS MORI suggests over 15% of the estimated 200,000 expected to cash in their pension will choose an investment in property when they are able to from next month.

 

 

Latest stats reveal an increase of 9.9% nationally in rental prices compared to February in 2014, released by HomeLet.

 

 

Looking to start or add to your property portfolio in Birmingham? If so contact us to discuss your investment requirements on 0121 604 4060 or contact the lettings manager Andy McHugo on [email protected].

 

 

*Stats are correct as of April 10th – 14th 2015, Source: Rightmove.com and Negotiator magazine

 

Similar Posts

Considering renting to tenants with a pet? What do you need to know?

2min
Setting the Stage: Effectively Staging Your Home

3min
Energy Efficiency Requirement Changes for Landlords

2min
The people we've helped

  • We recently switched from another letting agency to James Laurence, as we found their team so warm and friendly and loved the local aspect of the agency. The team have absolutely exceeded our expectations, making the changeover feel so seamless and finding new tenants for our apartment at really short notice. Lotti could not have been more wonderful to work with, going completely above and beyond to ensure our tenants could move in just before Christmas. We felt an immediate affinity with her and have so appreciated her attention to detail, quick thinking and creativity. She has made us feel so at ease, supported and like our property is in the safest of hands. Charlotte and Melissa have also been so helpful and lovely to deal with during the process. Having worked with several other agencies in Birmingham, I cannot recommend James Laurence highly enough. Look no further, they are the best!

    Julia Collins Andreu Avatar Julia Collins Andreu
    28 December 2022

  • The team at James Laurence was very helpful when I tried to find an apartment in Birmingham. I was in contact with a different letting agency but things fell through and they couldn't help me. A colleague of mine recommended James Laurence Lettings so I emailed them immediately since I was was moving from Sweden and the move would take place in less than a week. The team at James Laurence responded within 5 minutes and managed to offer me a few different apartment-options. Things proceeded quickly and smoothly and just a few days later I had they keys to the apartment. James Laurence helped me every step of the way and went above and beyond to accommodate my requests. The only minor negative thing I can say is that the interntal communication could be improved a tiny bit. I received slightly different information depending on who I was speaking with at the time. When I said I received different information earlier the person I spoke to said she would talk to her colleagues and then get in contact with me later with the "correct" information which she did and the issue got solved very quick.

    Elias Avatar Elias
    15 October 2022

  • Our experience with James Laurence Estate Agents was absolutely fantastic! Melissa Wilson made the application and referencing process smooth and easy with excellent communication. Everyone we spoke with from the office was kind, helpful, and welcoming. To top it all off, the loft we moved into was even better than the pictures! We are thrilled with our new home and we would absolutely recommend James Laurence to anyone looking for a place to live!

    Dominic James Avatar Dominic James
    2 October 2022

  • I have been very impressed with James Laurence, who have recently sold my property. Having previously had a poor experience with Purple Bricks, I instructed James Laurence to help sell my property. I have worked with Henry throughout the whole process and have found him to be very professional and knowledgeable as well as being efficient. It can't be stressed enough how important this is to have an estate agent that responds quickly, negotiates well and truly understands the market (especially during uncertain times like recently with the cover pandemic). I have briefly worked with Caroline and some of the other team members who also seem to be very efficient and friendly. Thanks again to James Laurence who I would fully recommend to anyone looking to Buy/Sell in Birmingham.

    David Jolly Avatar David Jolly
    16 June 2022

  • I recently sold my property with James Laurence, and the overall experience was great. They demonstrated a good knowledge of the Birmingham property market when discussing sales strategy, marketing and pricing (more than I was expecting) towards the beginning of my experience with them. This showed when we achieved 2 asking price offers within the first couple days of showings. Once an offer was accepted, their support did not stop there, Caroline (Sales Progression) did a fantastic job at liaising between myself and the buyers side, helping to progress items and remove any potential blockers. I would fully recommend James Laurence to anyone looking to Buy/Sell in Birmingham.

    Jack Darby Avatar Jack Darby
    20 May 2022