News

LETTINGS NEWS: Increasing numbers of young people will rent in future

21/03/16

More evidence has emerged to show the buy to let sector in the south west and across the country is likely to thrive in the long-term.

The Council for Mortgage Lenders calculates that a first time buyer now requires an income of £38,977 to pay for a mortgage and traditional household expenses.

However, the average salary for a single young person in a professional position is only £27,645 (and slightly less in areas like the south west). This suggests that only better-off young people, or those who club together with friends, can actually afford to purchase.

The organisation that made this analysis, mortgage insurance firm Genworth, says this inevitably means increasing numbers of younger people will be renting in the long-term.

 

Free Instant Valuation

Are you thinking of selling, or just looking to know how much your property is worth? Try our new online valuation tool, it only takes seconds.

Click here

SPECIAL WINTER OFFER FOR LANDLORDS

Free annual gas safety check and service on all new managed properties.

Click for more details

Find out more about our region

By limiting our market to properties in Exeter & the surrounding towns and villages, we don't stretch ourselves too thinly and can offer our customers genuine insider knowledge of the local property scene.

Download guide

What Our Clients Say About Us

Click below to see some recent testimonials.

Click here

Guide to moving home

If you've not moved before or just want to check on some recommended suppliers to help your move go smoothly then have a look at our online magazine.

Click here