London landlords, who sold their rental properties in 2017, gained an average £253,981, which was four times more than the average that landlord selling outside the capital gained!
This shows that the London property market continues to remain stable with the demand for rental property remaining high.
According to Countrywide plc Monthly Lettings Index – February 2018, landlords of London’s rental property made significant gains last year. In fact, one in four landlords (28 per cent) who sold their homes in London did so for at least twice what they paid for it an average of 8.1 years ago.
With the highest house prices and strongest capital growth over the last nine years, landlords, who sold in London and the South East, generally made the biggest gains. Eight of the 10 places where landlords made the highest percentage gains were in London, with Maldon in Essex (118 per cent) and Pendle in Lancashire (109 per cent) being the only exceptions
Likewise, the average UK landlords, who sold their rental properties in 2017 made a gain of £86,651, having owned their home for an average of 8.7 years. The average gain from a landlord is up slightly from £86,302 in 2016.
This is the right time to invest in a rental property in London considering the gains over time. If you are interested in investing in a buy-to-let property in London, Strawberry Star has several schemes. Call our London office for details.
Even in areas where price growth has lagged behind most landlords have made a profit from rising prices.