The survey found that there has only been a slight fall in the value of the average buy-to-let properties, from £143,400 to £143,000. In the South East the value dropped by an average of 1.5 per cent, from £168,800 to £166,200. However, in the rest of the country the average value rose 4.3 per cent to £96,700 from £92,700.
The market appears to be mainly suffering in the South East where the proportion of investment property held in letting agents portfolios is down by two per cent from 45 to 43 per cent. But, in the rest of the country it has actually risen from 36 to 41 per cent.
Other findings highlighted by the research include the fact that gross rental yields on capital values slipped from 7.3 per cent to 7.2 per cent, and the average empty period between tenancies remains unchanged at 27 days.
John Crossley, Chairman of ARLA, said: "Understandably, much of the world has been 'on hold' for the past two months. However, these figures show that there is resilience in the rental market that will stand buy-to-let investors, existing landlords and all tenants in good stead. Today there is choice and quality in housing that benefits everyone. ARLA will continue to play its part by demanding the highest standards from its members and practical support in tax and social policy from government."
