Chatting to Nicol & Co Lettings Department – Henry Burlison Churan
What has the market been like over the past 12 months & what does the future bring?
The lettings market is never the same and we would mainly put this down to an extremely fast-paced environment with a huge demand for properties. There are 470 rental properties available across Worcester and Droitwich* and this is rapidly growing due to tenants looking to ‘try’ an area, whether this be for school catchment or a commute, before putting down roots and purchasing a property. Circumstances can change at any time and the demand is still better than ever.
The average price of rental properties in Worcester is at £721pcm, which is holding steady when compared against 2017. This gives a strong reason for you as a buy-to-let investor to find the perfect rental as the appetite for renting is growing.
What sort of property should I invest in for a buy-to-let?
Looking for your only investment property or expanding your portfolio can sometimes seem daunting on what you should aim for. The best advice is to put yourself in your potential tenant’s shoes. This could mean purchasing in an area that provides excellent motorway access or is close to the hospital, but the rental interest would be stronger than other areas because of the work opportunities available. We work closely with our sales colleagues and we’d love to have a chat with you over a coffee and discuss your plans to grow your portfolio.
What are the popular areas for renting in Worcestershire?
The Midlands remains the buy-to-let location to watch. The best places to look are the most convenient location for amenities and easy access for commuters. This is because we have found that rental properties in hot spots gather almost double the interest! Droitwich remains a firm favourite due to it sitting close to the motorway, plus you’ve still got great access to Worcester. With the added developments at Copcut Rise, the town is seeing an increase in popularity, which is great for the local community and economy.
What are your priorities heading into the New Year?
Definitely to assist new and current Landlords with their portfolios, whether this be management or maximising the properties’ potential. With the high demand for rental properties, 2019 is set to kick off with a surge of tenants looking for their new home now that Christmas is all done and dusted.
Why should I choose an agent to manage my property?
Legislation is regularly being updated with there being more than one hundred different aspects of lettings legislation. 2019 is set to see the introduction of Tenant Fee Ban, Client Money Protection and the likelihood of mandatory Electrical Safety certification plus many more. It’s best to choose an agent who stays ahead of the curve and have the added benefit of ARLA Propertymark qualified staff.
For more information and a confidential chat about your portfolio or property search contact Nicol & Co; we would love to answer your questions. Call Nicol & Co Lettings Department on 01905 675999 or email: [email protected]
