Buy to let rental income leaps 15% in just one year says lettings agent
A lettings agency that has analysed HMRC data says rental income for buy to let landlords has leaped 15 per cent in just one year – despite the challenges facing the sector.
London agency ludlowthompson, analysing data across the UK, says rental income for buy to let landlords increased to £18.7 billion in 2016-17 (the latest available data) up from £16.2 billion in 2015-16.
ludlowthompson says the figures from HMRC show that buy to let properties have remained amongst the highest yielding mainstream investments.
Total rental income increased by 55 per cent in the last five tax years, while by contrast income from savings and cash ISAs have continued to be low due to low interest rates.
“Buy to let property is now a key part of individuals’ investment portfolios and retirement income. Residential property not only offers investors a stable, regular monthly income, but also offers long-term capital growth. While house prices are not a one-way bet, property has historically been far less volatile than other asset classes, such as shares” according to Stephen Ludlow, the agency’s chairman.