According to Belvoir, new tenants will have to pay substantially more for a similar property than they did two years ago. The Belvoir monthly rental index, produced by 140 plus offices nationwide, has shown a steady rise in rental income across the country throughout 2010. The latest figures show a further rise in rents from £695 to £700 and, in September, the network fee income rose by 9.8 per cent, setting a new company record.
As Belvoir's network turnover reaches an all time high, Managing Director Dorian Gonsalves predicts perfect market conditions for long-term investment landlords.
"With an estimated 490,000 public sector job cuts planned, and the residential sales market bracing itself for another dip, the situation is predicted to continue for the foreseeable future and new buy-to-let landlords will be attracted by higher yields and attractive purchasing prices.
"Belvoir is well placed to provide unique and expert advice to landlords looking to expand their portfolios. An annual growth figure of 10 per cent is further evidence of Belvoir's continued success."
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