UK Money News
23rd June 2008
Rental yields up in May
Buy to let landlords benefited from higher rental yields in May, according to an index compiled by Paragon Mortgages.
Figures from the buy to let specialist lender showed that rental yields hit 6.4 per cent during the month - the highest level since the start of 2006.
The increase meant that rental incomes have now risen by almost 12 per cent over the last 12 months and by six per cent over the last six months.
John Heron, managing director of Paragon Mortgages, said: "Strong tenant demand has been pushing up rents, allowing landlords to achieve better yields than they've seen for more than two years.
"With lower property prices and higher rents, the yield they can achieve on a carefully selected and well managed investment property can be significantly higher than other forms of investment."
The study also found that 14 per cent of landlords had immediate plans to add properties to their portfolios, despite the downturn in the housing market.
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