Ascot and East Grinstead among UK’s top five spots for rental growth

Thu 15 Oct 2015

Ascot and East Grinstead are among the most lucrative places in the UK to invest in a buy-to-let property, with landlords enjoying a record return in the last year.

New statistics from Rightmove show the Berkshire town witnessed a 16 per cent increase in rental asking prices between the third quarter of 2014 and the same period this year, while the West Sussex settlement experienced a rise of 13.6 per cent.

Jane Wilkinson, lettings director at Leaders, says: “One of the most common dilemmas for buy-to-let investors is where to purchase a rental property, so this research is incredibly useful in pointing them towards towns like Ascot and East Grinstead.

“With rents rising at such a rapid rate over the last 12 months, the potential return in these locations is higher than ever, making it a fantastic time to invest in property.”

The figures show that the average asking rent for a two-bedroom property in Ascot jumped from £1,372 pcm in 2014 to £1,592 this year, while in East Grinstead the typical price requested by landlords increased from £884 to £1,004.

These results put both locations in the top five highest growth areas outside Greater London, alongside Gillingham and Gravesend in Kent and Rushden in Northamptonshire.

Jane adds: “Both Ascot and East Grinstead are extremely popular with young professionals looking for excellent links to central London, as well as families seeking a safe and pleasant place to live that offers a wide range of successful schools.

“There is no sign of tenant demand slowing, making these towns good options for landlords aiming to achieve a healthy return on their investment over the medium to long term.”

Across the country, the annual change in average asking prices on the rental market stood at 4.5 per cent - highlighting just how beneficial the Ascot and East Grinstead sectors have been for landlords in recent times.

For more information on beginning a successful buy-to-let venture or adding to your existing property portfolio, please contact your local branch.