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Thursday, September 24, 2015

Paragon's PRS report looks positive

The third quarter 2015 'Private Rented Sector Report' from Paragon Mortgages record a stable marketplace with landlord confidence remaining high despite the global economic uncertainties.

Three reasons to be cheerful -
  • Annual rental yields are up from 6.3% to 6.4%.
  • Rental void periods remain at historically low levels of just below 2.6 weeks.
  • Tenant demand is reported to be strong, with more than 40% of landlords polled stating that tenant demand is either ‘growing’ or ‘booming’, and more than half of landlords expecting demand to grow further over the next 12 months

The survey reported an  increasing proportion of young families with children were moving into the Private Rented Sector, just as the numbers of young couples and professionals were decreasing. corresponding decrease in young couples and professionals. 

John Heron, Paragon’s director of mortgages commented on how the data -

‘ reveals the changing demographic of those choosing to live in the PRS. This is reflected in the buying intentions of landlords which seem to be shifting slightly away from investing in multi-occupancy blocks, towards terraced housing, often more suited to young families,’

The number of of landlords looking to invest in terraced houses increased from 38% in the previous quarter to 43%.  

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