With the Office for National Statistics putting house price at 7.2% in the year to December 2016 first-time buyers are in danger of being left behind, reckoned Rob Clifford, commercial director of SDL Group
The SDL Group has seen its build to rent business double in the past few months as the private rental sector grows, unlike first-time buyer business.
With the Office for National Statistics putting house prices at 7.2% in the year to December 2016 first-time buyers are in danger of being left behind, reckoned Rob Clifford (pictured), commercial director of SDL Group
Clifford said: “They are facing a two-fold problem. One is the much-publicised shortage of quality new homes being built, whereas those buyers who are lucky enough to find an existing property, could well now find themselves priced out of the market.
“As a result, I fully expect to see the rental market continue to grow. This has been pre-empted by the government’s housing white paper and the fact is the UK’s private rental sector and Build to Rent market is moving at a fast pace.
“As an example, we’ve seen our own B2R business double within the past few months.
“However, this rental boom could bring its own problems, particularly for landlords who will face new pressures on their buy-to-let yields.
“The question now is, are we set to see a rental price hike in order to compensate for this?”
The SDL Group incorporates brands such as Century 21, SDL Bigwood, SDL Graham Penny and SDL MoneyQuest.
