UK Money News
22nd February 2008
Rental yields at two year-high
Rental yields for buy to let landlords hit their highest level for two years last month, new figures reveal.
According to a research conducted by Paragon Mortgages, the average yield rose by to 6.3 per cent during January from December's figure of six per cent.
This is the highest level recorded on the firm's Buy to Let Index since March 2006.
The principal factor behind the rising yields is higher rents, which grew 0.2 per cent during January, bringing the rise in rents since September 2007 to eight per cent.
However, the rise has been offset to some extent by a 1.5 per cent dip in house prices.
Commenting on the findings John Heron, director of mortgages at Paragon, said: "Commentators who predicted that the current economic climate would translate into stronger demand for rented homes and higher rents are being proved right.
"Since September, we have seen one of the strongest periods of rental growth ever. This, together with the easing of house price inflation, has translated into higher yields."
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