Both rents and landlord confidence up over last 12 months

There was more good news this month for no deposit renters insurance policyholders across the UK, with new statistics showing rises in both rental values and landlord confidence over the last year. The 12 months to February saw a 1.6 per cent increase in rents across England and Wales, according to the most recent Buy to Let Index of LSL Property Services. Meanwhile, National Landlords Association (NLA) research found that there had been a tripling in confidence in the UK's financial markets among landlords in the past year. 

The latest heightening in rents brings the average UK rent to £743 per month, with seven in 10 regions seeing higher rents in February than in January, when there was a 1.4 per cent rise. Holders of a no deposit renters insurance policy will also be pleased to hear of improved tenant finances, with the proportion of late rent having dropped to 6.9 per cent during the month. The last 12 months have seen landlords earn an average annual return of 9.7 per cent, or over £16,000.

In the words of LSL Property Services director David Newnes, "Property to rent remains in high demand. Despite great improvements in the prospects of many first time buyers, there are still millions of households who rely on a healthy private rented sector for their homes." The fastest monthly rises were seen in Yorkshire and the Humber and the West Midlands, where 1.2 per cent increases were recorded, while Wales saw a 1 per cent monthly rise and rents rose by 0.6 per cent between January and February in the East Midlands.

There seems to be plenty of positivity among the UK's no deposit renters insurance policyholders, certainly by the evidence of the NLA's recently released data. Almost a third, 31 per cent, of landlords rated their expectations of the UK's financial markets as 'good' or 'very good' for the months to come, which is a 21 per cent increase on a year ago. Furthermore, an intention to buy property over the next 12 months was cited by 27 per cent of landlords.

Carolyn Uphill, chairman of the NLA, said that optimism among landlords towards the UK's financial recovery, together with the Bank of England's announcement that interest rates would stay at their present low of 0.5 per cent for now, "makes good reading for anyone considering buy to let investment." That doubtless includes many a prospective investor in no deposit renters insurance, which is available from Advanced Rent for landlords looking to avoid the hassle associated with the acceptance and protection of tenant deposits.

Editor’s Note: Advanced Rent (http://www.advancedrent.co.uk) is represented by the search engine advertising and digital marketing specialists Jumping Spider Media. Email: info@jumpingspidermedia.co.uk or call: +44 (0)20 3070 1959 / +34 952 783 637.