This week we’ve come across two separate statistics in the news that confirm our everyday experience on the local lettings market.
West Dunbartonshire in top three rental yields
Firstly, there is the news that Scotland in general offers some of the best rental yields across the UK, with top average yields being offered in Glasgow, West Dunbartonshire and Inverclyde (source).
West Dunbartonshire offers some of the top buy to let yields across Scotland with an average of 7.2%, only surpassed by Glasgow with yields of 7.8%. Offering excellent value for money and good infrastructure, many tenants are choosing West Dunbartonshire to commute to Glasgow or beyond. Our stock to let usually gets good viewing rates and doesn’t spend long empty.
If you are thinking of investing in buy to let or are already a landlord in the area, make sure you chat to our expert team. At Caledonia Property we make sure your property not only returns the best possible yields but also that you are fully compliant to up to date letting rules and regulations.
Increase in the number of buy to let mortgages
Secondly, the number of buy to let mortgages has been increasing year on year, showing investors are still interested in property. And with the right letting professionals on your side, you will ensure to get the best possible outcome out of your investment.
Statistics for December from UK Finance, the mortgage lenders’ trade body, suggest that there were 5,700 new buy to let home purchase mortgages completed in December – that’s 3.6 per cent more than this time last year. (Source)
This shows that with the right property and the right location, long term lettings are still a very viable business. With more than 20 years of experience on the local market and over 300 properties in our portfolio at any given time, we are a good starting point for starting your property investment portfolio in West Dunbartonshire.
Is your let fully compliant? Essential advice
For your peace of mind and to avoid further complications down the road, our essential advice is to make sure your rental property is fully compliant to current rules and regulations. From collecting and keeping the safety deposit in a compliant government scheme, to fire alarms and all the host of rules around letting, we have a team of professionals ready to help guide you through the process of becoming a landlord. Further information on lettings compliance can be found here or, for more information on our letting services – rent guarantee, property inspections, deposit schemes and more, click here.
As one of West of Scotland’s longest established estate agents, we’ve helped families across the country buy, rent, let and sell properties quickly, and with the minimum of hassle. Get in touch with our team on 0333 241 3333 today or send us a message to find out more.