There’s a major need for more buy-to-let properties in the South West of England, which means the region potentially offers the best opportunity for buy-to-let investors.
In the region there are 520,000 private rental homes but owing to strong competition among tenants only 7,802 are available to rent, just 1.5% of the market.
The analysis comes from Sequre Property Investment, which looked to identify the regions where more rental stock is required.
Other than the South West the North of England dominates, in terms of areas that could do with more rental stock.
In the North West only 2.2% of the estimated total private dwellings found in the region are available to rent.
Meanwhile it’s similar story in the North East (2.4%) as well as Yorkshire and the Humber (2.5%).
Daniel Jackson, sales director at Sequre Property Investment, said: “So much attention is given to the sales market, not least in the wake of Covid-19, but the rental market remains far more relevant for many millions of people in this country.
“These people need homes – good quality, secure homes – and yet the buy-to-let industry has come under attack from a government that has a vision of England where everybody owns and nobody rents.
“But this isn’t a vision that most people share and so, despite the government’s best efforts, choosing to invest in a region with a lack of available rental properties on the market means you have a great chance of securing reliable, long-term tenancies in high-demand markets.”
London, after the exodus of tenants during the pandemic, currently has 7.2% of its rental stock available to rent, suggesting there’s more than enough stock to go around in the capital.
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