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Rental voids are at their lowest levels in 13 years

25/03/2015

Paragon a popular mortgage lender has been surveying their BTL landlord clients for 13 years. Their finding for the first quarter of 2015 is down to the lowest level they have ever recorded at just 2.4 weeks. This has dropped since the last quarter's figure of 2.6 weeks at the end of 2014.

This 14% drop in the adverage void experienced by landlords is another great sign of lower risks in BTL and consistent returns. Landlords have been reporting low or falling void periods since 2013, with only a slight fluctuation in mid-2013 when the average climbed marginally to three weeks.

 

“Void periods have been consistently low for some time, which is not unexpected when you also look at what landlords are telling us about the level of demand from tenants”

says John Heron, director of mortgages at Paragon.

“In our survey for the first quarter of 2015, 42% of landlords said in their view tenant demand was either growing or booming and 54% felt demand was stable. The housing market is currently experiencing a shift, with more people choosing to live in the private rented sector. This change in housing dynamics appears to be a continuing and long-term trend” he says.

The lenders are opening more products for the BTL market again as the demand grows. It is a great time to gain your first or more investment property for your portfolio.

 

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