Lettings Market Brief: Potential for strong returns
The lettings market within York continues to be strong due to the lack of supply of properties available.
We have seen significant increase in apartments around the city centre due to the completion of Leetham House, Hungate, which has brought a number of new apartments to the market but other than this, houses are still scarce. Three and four bedroom houses for rent are snapped up very quickly and family homes continue to be in short supply.
Landlords are still coming under pressure due to taxation changes at central Government aimed at levelling the playing field for first time buyers but with average returns of between 4% and 5% yield, together with any potential for capital appreciation, the returns are still higher than those obtainable within a bank.
If you are considering renting a property, please talk to our lettings team who would be delighted to visit you and advise on lettings values and tell you how we would go about finding a tenant on your behalf.