Strong rental growth in Wolverhampton is good for Landlords and home buyers a like, sadly not if you are renting as rents very rarely decrease over the long term, but tenants do have the advantage of greater flexibility, and can move location quite easily.
Monthly Rent costs in the West Midlands has increased by 4% over the past year from April 2018 to April 2019. The rental market in England and Wales continues to grow steadily. And during April, average rents increased to £861 per month, which is a 0.5% rise from last April”. With the strongest rental growth, the West Midlands saw rents rise to £641 per month in April. The region overtook the south-west, which featured a 3.7% increase in rental prices.
Regardless of the short-term rent fluctuations the Wolverhampton property market remains a great place to invest, with landlords also enjoying stable returns over the long term. However, landlords make sure that you are on the best Buy to Let mortgage product for your circumstances so you are not wasting thousands of pounds each year by being on the wrong mortgage product.
If you’d like a free consultation with an expert and a professional recommendation on the best mortgage for you, call Paul on 01902 213201