7th
Sep 2016
A latest piece of research claims that UK Landlords are earning twice the average wage by renting out ‘homes’.
A major bank’s buy-to-let division reveals figures that landlords, on average, may actually receive nearly £60,000 per year income from renting out properties, more than double the average wage of £27,174. Their research claims that the average landlord has eight or nine properties in their portfolio totalling £1.2 million.....this is a somewhat different estimate to the Two in Three Landlords Going It Alone Story, where an insurance company said that 45% of landlords had just one property.
The research also shows figures of an increase in the UK average yield of 6.2% and the East Midlands and Wales have enjoyed a 6.7% growth. Landlords are highly confident about the long term future of the sector as higher yields are being achieved and 61% are very positive for the next twelve months in comparison to the 54% over a year ago.
Head of the Bank’s Division, Phil Rickards, said: “It’s easy to see why people are attracted to the buy-to-let market; it offers a tangible investment which can provide the long-term returns that some other assets won’t. For those people considering the opportunities that this market presents it is however important to understand the financial and legal commitments being a landlord brings and to ensure that you undertake the right level of research and due diligence to increase your chances of success.”
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