Rental Yields Increase in Essex

According to the statement made by Essex-based estate agency specialising in residential sales and lettings, Beresfords, local buy to let landlords have seen increased rental yields in the past weeks as property sales in the region rose significantly. The increased number of marketed properties resulted in shortage of supply of properties for rent, which in its turn led to a rise in rent rates and rental yields. As Beresfords’ lettings manager, Mr. Adam Johnson, puts it, a decrease in the number of rental properties registered in the past weeks led to a rise in rental yields for buy to let landlords in Essex. The decline in supply of rental properties means not only more expenses, but also less time and fewer choices for tenants. Those who wish to secure a high-quality property at a reasonable price need to act fast; this is, clearly, good news for Essex landlords who are unlikely to face long void periods in the near future anymore. According to Mr. Johnson, one of the property developments in Brentwood – Base by Crest Nicholson – is a good example of increased interest of buy to let investors and tenants in UK property. The Base development, located near Brentwood rain station, saw high demand from various groups of tenants lately, which resulted in high sales level. Both, professional and amateur buy to let property investors have put their money in Base. Sales and marketing director of the eastern branch of Crest Nicholson, Ms. Annette Cole, said that the developer expects Base to become even more popular with both, landlords and tenants when market conditions improve. She added that currently flats in Base are priced from £225,500 and recommended that investors act quickly to take advantage of low prices.