Outlook on rentals positive
Rental prices in Darwen, Bolton, Blackburn….. and indeed across the Region are holding steady currently and even showing a slight upward trend across the County Lancashire and Greater Manchester right now – and, what’s more, a further rent rises and rental property demands are likely towards the end of this current summer!
Rental properties available
Latest stats showed that just 6,500 properties are currently up for rent in the County of Lancashire with a thousand or so coming on stream in the last 14 days.
The current average home rental in Lancashire is around £540.00 a month and rents range from £395.00 for a one bedroom property up to just over £900.00 for a 4-bedroom home.
More ‘amateurs’ to join rentals marketplace
The current encouraging rental market outlook is continuing to attract a good few new ‘amateur’ landlords to the rentals marketplace and this trend is probably set to continue over the next year or more.
Finance ‘out there’
Paul Ainsworth Lord, a landlord himself, and also founder of one of the local region’s most energetic, fast growing Letting Agents, Ainsworth Lord Estates in Darwen, says rental property finance for a ‘starter’ amateur landlord is certainly out there to get.
‘Sound’ investment possible
“Buy to Let finance is readily available and a rental property – if chosen and prepared with care and good judgement – can deliver a good a sound investment return. We have finance available.
A carefully chosen rental residential property can certainly deliver a worthwhile return of around 5-6% per annum and that is more than you’ll get just leaving your money in the bank at the moment for sure,” adds Paul.