Good News for London Landlords | Homefinders

Good News for London Landlords

Good News for London Landlords

There has been good news this month from the Office of National Statistics, average house prices have returned to 2008 levels which is about the time the property crunch happened.

Even better news for Londoners, of the 6 regions that are above 2008 levels, London of course leads the way at a 19.1% increase since 2008.

The full breakdown is as follows:

UK: £272,000, annual rise of 11.7 per cent

 England: £284,000, up 12 per cent

 Wales: £171,000, up 7.4 per cent

 Scotland: £198,000, up 7.6 per cent

 Northern Ireland: £139,000, up 4.5 per cent

 North east England: £156,000, up 9.5 per cent

 North west England: £175,000, up 7.7 per cent

 Yorkshire and the Humber: £174,000, up 5.0 per cent

 East Midlands: £187,000, up 7.6 per cent

 West Midlands: £198,000, up 7.3 per cent

 East Anglia: £282,000, up 10.6 per cent

 London: £514,000, up 19.1 per cent

 South east England: £337,000, up 12.2 per cent

 South west England: £246,000, up 7.1 per cent

Couple the above with Countrywide reporting that 19% of London properties are renting for more than advertised with 5 tenants chasing each property that comes to the market and it has never been such a good time to be a landlord in the capital.

The icing on the cake has to be the latest inflation figures of 1.5%. This is well below the 2% target that the Bank of England has set which makes it unlikely that interest rates will be rising sooner rather than later.

If you're a landlord, time to kick back and relax, if you're not, there has never been a better time to buy, with record low interest rates and high tenant demand; it's a win win situation.

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