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Is Bath becoming overcrowded, or are the numbers misleading?

Posted on by prateek

This wonderful city, with its rich heritage, stunning architecture and deep-rooted history has always been an attractive place to live. However, there has been recent concern that suggests the whole of the UK and thus Bath, may be facing a population crisis, impacting the quality of life for its current and potential future residents.

With 10,128 people living in Bath per square mile, the city appears to be bursting at the seams. However, is Bath truly overcrowded, or are these figures misleading?

UNDERSTANDING POPULATION DENSITY –

To put things in perspective, the UK has a population density of approximately 1,065 people per square mile. This makes it the second most densely populated country in Europe. If we then zoom into the local area, Bath covers a 9.4 square mile area and has a population of 94,800 people. This translates to 10,128 people per square mile. Now this sounds like an extremely high figure at first glance. However, for comparison, there are 33,465 people per square mile in the Lambeth Council Area in London.  

However, back in Bath, let’s break down these figures further. A square mile is a large area and is hard to comprehend, so let’s break it down into acres. 1 Acre is 64m² and is a more relatable unit of measure.

So with this in mind, Bath has an average of 14.43 residents per acre, as Bath covers 6,570 acres.

THE HOUSING SHORTAGE –

The real issue within the city at the moment isn’t just the number of residents in the area, it is the lack of available housing in the market.

To put it simply, there isn’t enough housing to accommodate everyone who wants to live in the city. This shortage is placing immense pressure on public services. Many parents end up struggling to secure their first choice of primary or secondary school for their children, and being able to find a local GP or dentist with available appointments is becoming increasingly difficult.

You would think that with all the new developments being built in and around the city, there would be plenty of new homes. The truth is that even with this number of new homes being built we still aren’t building enough. So why is this?

The source of the issue began back in the 1980s when councils stopped building houses. Before 1979, an average of 147,000 private homes were being built yearly. Since then, around 153,000 private homes have been built per year, which is not a lot different. However, the disparity comes when we look at the amount of homes councils were building per year before and after 1979. Pre 1979, councils were building an average of 165,000 homes per year, and since 1979 they have only been building 11,400 per year, a stark contrast.

In 2007, then Prime Minster, Tony Blair set out a target of 240,000 new homes per year to keep pace with population growth. The conservative government then adjusted this target to 200,000 homes per year. However, since 2012, the UK has been building only 175,641 homes per year. This shortfall has exacerbated the housing crisis, particularly in densely populated cities such as Bath.

Since their landslide victory in the recent general election, the new Labour government has announced ambitious plans to build 300,000 new homes per year. This new initiative aims to address the housing shortfall and improve housing affordability across the country.

The government’s commitment to this large-scale construction project reflects its focus on boosting the housing supply and supporting communities that are in need of new homes. However, assuming they find the people to build all these new homes, where are they going to be building them?

IS THERE SPACE FOR ALL THESE NEW HOUSES?

One might be left to wonder, if the government plans to build that many houses, where are they going to fit on a seemingly crowded island?

Interestingly, a recent government report reveals that residential properties cover only 1.2% of England’s landmass, increasing to 4.7% when we include these properties’ land and gardens. So, as well as homes, how is the rest of the land used in England:

  • Residential Houses and Flats: 1.2%
  • Gardens: 3.5%
  • Shops and Offices: 0.7%
  • Highways (Roads and Paths): 2.3%
  • Railways: 0.1%
  • Water (Rivers and Reservoirs): 2.6%
  • Industry, Military, and Other Uses: 1.4%
  • Open Countryside: 88.3%

This means that 88.3% of the land remains open countryside. If we factor in gardens, which are green spaces, the country is 91.8% green space. Thus, if we were to adopt the 300,000 annual target for the next 20 years, there is ample room to build those additional six million homes, and it would occupy only 0.3% of the country’s land.

SUSTAINABLE DEVELOPMENT:

Focusing back on Bath, the key to solving Bath’s housing crisis lies in sustainable development and innovative urban planning. Massive housing estates and towering apartment blocks are not the answer for this city. Instead, we need to consider creative solutions that allow these new developments to seamlessly integrate with the natural landscape here in and around the city.

THE ROLE OF TECHNOLOGY:

Modern technology can also play a significant role in addressing modern housing challenges. For example, prefabricated and modular homes can be constructed quickly and efficiently and reduce the strain on resources. These types of homes can be designed to be environmentally friendly, incorporating energy-efficient systems and sustainable materials.

Furthermore, advancements in urban planning software also allow for better simulation and planning of new developments, ensuring that they are both efficient and harmonious with the surrounding environment.

COMMUNITY INVOLVEMENT:

Public engagement and community involvement are crucial in addressing Bath’s current housing needs. Bath residents should have a say in how their neighbourhoods evolve. Collaborative planning can lead to more acceptable sustainable solutions. Fostering a sense of ownership of these developments can create pride among residents when developments are community-driven and with their local interests in mind.

FINAL THOUGHTS:

Bath’s apparent overcrowding is a complex issue that goes beyond mere numbers. While the city does have a high population density, the real challenge lies in the availability of housing and the efficient use of space.

By rethinking urban development and leveraging modern technology, Bath can accommodate its growing population without sacrificing the quality of life that makes it such an appealing place to live.

What are your thoughts on the matter? We would love to hear from you.

LABOUR’S HOUSING AND PROPERTY MARKET MANIFESTO: What Bath homeowners & Landlords should know:

Posted on by prateek

Now we know Labour will be taking the political reigns over government and hailing in a new era of policies and promises, particularly in the housing and property markets, what does this manifesto outline in their plans to address the chronic issues of housing affordability, renters’ rights and homelessness?

IMPACT OF THE GENERAL ELECTION ON THE UK PROPERTY MARKET:

Despite the anticipation and uncertainty of the general election, the UK property market has shown resilience and strength. For June, UK house prices for homes sold subject to contract (SSTC) remained sturdy at £348/sq.ft, a 5.1% increase compared to December of 2023. So, from the outset, the UK housing market is still showing growth even with political change.

The volume of property listings has also seen a notable rise, with 7.5% more homes on the market compared to the same period between 2017-2020. This suggests homeowners are remaining confident in the market, despite the recent election.  

To summarise, the general election has not significantly impacted the UK property market. With house prices continuing to rise, and listings and sales still increasing, the market remains strong and provides a positive outlook for the future.

ADDRESSING THE HOUSING SHORTAGE:

Labour has set an ambitious target of building at least 150,000 council and social homes each year. This move aims to tackle the severe shortage of affordable homes in the UK property market. Many of these new homes will be council homes, providing an affordable option for families and individuals. However, there is a severe lack of clarity on where the finances to fund these extensive development projects will come from. The lack of any idea where this £18bn a year will come from is casting doubt on the ability to achieve such an ambitious goal.

ENHANCING RENTERS’ RIGHTS:

With Labour’s plan to abolish Section 21 evictions, which currently allows landlords to evict tenants without a reason, renters can expect more stability. However, this change will only be implemented once the government has reformed the courts, aiming to provide more security for renters. This legal proceeding could take years. Additionally, Labour is seeking to introduce rent control caps to eliminate excessive rent hikes, which has proven contentious in other markets. Historical data from Scotland and worldwide indicate that rent controls often lead to decreased investment in rental properties and a reduction in the overall quality of available housing, causing more harm than good.

Another significant change for the rental sector is the creation of a national landlord register. An initiative aiming to improve the standards and accountability in the private rental sector, ensuring landlords maintain their property to a decent standard.

SUPPORTING FIRST TIME BUYERS (FTB):

Labour’s manifesto also promises to support first-time buyers by reducing the barriers to homeownership. This includes increasing the availability of affordable housing and offering financial incentives. Such measures could stimulate market activity and make it easier for FTB’s to get their first home, although the specifics of these policies remain vague.

PROMOTING HOUSING STANDARDS AND SUSTAINABILITY:

To ensure that homes provide a safe and decent living environment, Labour plans to enforce a Decent Homes Standard.

This standard will focus on improving safety, decency and energy efficiency, setting clear criteria for what constitutes a ‘decent’ home. Additionally, millions of homes will be retrofitted with measures designed to enhance energy efficiency, reduce CO2 emissions and lower energy bills. The initiative reflects and strong commitment to sustainability, which could also create new opportunities and challenges for the property market in Bath.

REGULATING THE HOUSING MARKET:

Labour also intends to reform land and property taxes to ensure fairness and efficiency in the housing markets. Additionally, they aim to curb property speculation and reduce the number of vacant homes by imposing higher taxes on empty properties. These measures could stabilise the market and make housing accessible to more people.

IMPLICATIONS FOR BATH LANDLORDS AND HOMEOWNERS:

These policies will bring changes in the market, especially for landlords. Increased regulation, particularly in the rental sector, will require landlords to ensure they are extracting the maximum value of their investment. With many of these changes on the horizon, Bath landlords should seriously consider making those changes in the coming months.

The push for affordable housing and support for first-time buyers might alter market dynamics in the rental and lower-priced starter home markets. Furthermore, shifting the focus on sustainability in homes will present new and interesting challenges in property development and management, especially in areas with a high level of listed buildings such as here in Bath.

Post-election and beyond, the changes for homeowners will be minimal. The proposed development of new houses across the country will see a slowdown in house price growth, yet this is not always a bad thing. People tend to move when they deem it a necessary change and not based on the price of housing. So, over the next 5 years, it is unlikely that we will see a huge change for homeowners.

Historically, not all manifesto promises come to fruition. So overall for all property owners, it is essential to remain realistic about the changes that may occur over the next five years and potentially beyond.

In conclusion, while Labour’s manifesto presents a comprehensive plan to address the housing issues this nation faces, it will likely take a lot of time until changes are felt in Bath and beyond. Landlords should prepare for a slightly more regulated environment. Yet, we have seen increased regulation over the last decade, so the immediate impacts may be limited for some time as the new government navigates the vast complexities of implementing these ambitious policies into practice.

Bath Landlord Conference: This is your invitation

Posted on by prateek

Well, with the election just on the horizon, understanding the impact of the outcome will be crucial for any landlord and property owner.

This month’s event will take place on the 17th of July, starting at 6:30 and hoping to wrap up by 8pm.

At this conference, we have three incredible speakers lined up for the evening.

Tim Thomas – Propertymark’s Policy & Campaigns Officer, a role in which he regularly digests new legislation, liaises with government departments and attends government and industry working groups. Tim will share his insights into what the newly elected government has in store for the housing sector.

Jacqui Swann & Shaz Sarfraz – Is your tenancy watertight? Do you have every safety certificate? Have you served every mandatory document? If you’re not sure, you could have missed something important that will pose problems further down the line. In this session, Shaz Sarfraz and Jacqui Swann from Battens Solicitors will explain how to ensure you are not at risk of fines or failed notices.

Toby Martin – our very own Bath lettings expert will be presenting an up-to-the-minute summary of the local lettings market, along with some simple tips for landlords to ensure a successful tenancy

So, what are you waiting for? If you are interested in coming to hear what these incredible industry professionals have to say about the local market at beyond, then do order your tickets here: Bath Landlord Conference Tickets, Wed, Jul 17, 2024 at 6:30 PM | Eventbrite

So, what did we learn at Propertymark One?

Posted on by prateek

If you are involved any way in the property landscape in the UK and beyond, then your social media will likely have shown you that this year’s Propertymark One took place a week ago. If you missed that news then yes, the annual conference led by the property sectors professional body, Propertymark, was held on the 14th of June at the London ExCeL and gave us industry professionals a days insight into the changes the property world may see in the next 12 months. Alongside this we also got presented with new ideas around how we as professionals should be utilising our social platforms. This blog will give you a look into the day we had and our key takeaways from this event going forward.

election year graphic with ballot paper and date

The General Election –

Well it’s nearly here, you can almost touch those 2024 general election ballot papers. Last month, Rishi Sunak called a sudden general election following a positive start to the year for his party. In his announcement speech, he said the economy was growing faster than any other country in the G7, and his government had begun to reduce inflation in the country. However, as is customary, the opposition is keen to point out that it is more likely he called the election as the economy is stalling.

Either way, the general election is nearly upon us and the country is more than likely to see a new party come into power, most likely Labour if recent polls are to be believed. So what did the experts at this year’s Propertymark One have to say following the sudden news?

Well, the overarching opinion is that in the next couple of weeks, we are likely to see a slowdown in the property market’s cogs, a property pause if you will. People are most likely to stay put and wait to find out what the new leadership party may do to affect parts of our income streams, such as stamp duty, and other taxes before they make a move toward moving home. If stamp duty is reduced, or even as some manifestos are suggesting, get abolished entirely for young people and first-time buyers, then we may see a sudden influx of house buying. Either way, the election will bring about change and it is also more than likely that we will see a spike in the housing market (potentially an 18% increase in the first 4 weeks after the election based on past data) after the election if past trends are to continue, and inflation continues to fall.

Propertymark membership

The Importance of being a Propertymark Member –

Propertymark is the professional body for the property sector and continues to equip member businesses and individuals with all the necessary tools, training and qualifications for all sectors and staff. Nationally recognised, Propertymark allows agents to display their level of CPD (continued professional development) and the professional standards they adhere to.

This year’s PMOne continued to reiterate that being a PM (Propertymark) member is not only important for showcasing your level of professionalism in the industry but also the benefits of being a PM member. With a new level of qualifications, new benefits for members and the introduction of the company membership, it is an exciting time to be a member. So, as the market and the industry is due to see significant changes in the coming months, it is reassuring for our clients to know that we are Propertymark protected and are keeping up with the latest industry changes.

social media AI generated background

Marketing as an Agency –

In the past marketing as an agency involved just creating some form of content showcasing your listings and maybe a new team member if you were so lucky and creative. However, in recent times this has changed. People are more interested than ever in doing business with people they feel they already know when they want to bring their house to market or find a place to rent.

There was a big emphasis this year on agencies marketing themselves differently. Instead of just showing off the latest and greatest home you may have coming to market and boasting the price it is on the market for, we should be getting our faces in front of the camera, giving people a voice and person to engage with and then do more than just show off the property. People want to hear about the story behind the house and the rooms inside, the land surrounding, and all that good house stuff.

Most importantly, it was advised that agencies should be doing more than a whistle-stop tour of a home on their social platforms. They should be advertising their expertise and knowledge of the local area they cover, showing the latest news in the property landscape, going out locally and showing off the people in their company, going out and about in the neighbourhoods, showcasing local places people may want to visit or be interested in if they are re-locating and are new to town. The idea is that agencies should not only be a place people come to for their home, but for advice about the place they call home.

All of this effort is in the pursuit of making your agency stand out from the crowd, while at the event we were asked to sit down if we didn’t post certain things on social media, and by the end, in a room full of around 50 people, just 3 were left standing. Again, agencies need to become a place people can go to not only for a home but for advice on the local area or an issue they’re having in their property and know your agency is a place where they can step into for the first time, but feel like they are already friendly with you and have made a connection.

This effort is also made to create a trail of breadcrumbs that may lead to future business. For example, if someone is looking to relocate to the city and previously saw a video of your agencies showcasing the beauty of the city you are in, then they may be enticed to get in contact with you first over the other competing agents in town. Alongside this, they may also see some content of yours regarding the local amenities in the city and then trust that you know the city well, leading to a sense of trust, and then contact you regarding a sale of a house. The more listings and people you make an impression on, the more people are likely to recommend you and word of mouth will spread. Leaving these breadcrumb trails back to your agency across various channels is crucial to success in the digital age.

Rounding-Off –

Overall then, the key takeaways from this article are:

  1. Be prepared: There is more than likely to be a flurry of activity after the election. Be prepared for any outcome. Make sure your team know and is made aware of any legislative changes that may be put into effect over the coming months.
  2. Propertymark Membership: This is continuing to be an amazing asset to any team of any size. Individual or Company membership is available and will not only boost credibility as an agent but come with some amazing perks too.
  3. Social Media is Power: The modern era of property agency is upon us. AI assistance will be here before we know it and social media will likely become the leading influence in the next generation choosing an agency when renting or buying a home, based on their connection with the people in the company and the brand they are presented with online. An online presence is so important and you must take the steps now to cement yourself in your local area and get that extra yard on the competition.

So, if you want to get connected with us and see what we are doing on social media, then please go and follow us on all platforms, and as ever, if you want to come and say hi you can find our contact details at the top right of the page.

Propertymark One 2024

Posted on by prateek

Well, what an insightful day the team here at RESIDE had during the trip to London to attend this year’s Propertymark One.

For those who do not know, Propertymark is the leading membership body in the UK for all property agents, big or small, sales or lettings. They provide us with professional credibility and help businesses in the sector be equipped with the tools and training needed to tackle all the hurdles we face and provide us with the ability to grow our professional knowledge, allowing us to gain valuable and nationally recognised qualifications within the industry so you can trust us with your homes.

Since its inception last year, Propertymark One was back again to gather many familiar and influential speakers within the industry to provide us all with their valuable insight into the market over the coming months. With an election on the horizon, we were told all about how this is looking to shape the market over the next 6 months and what this means for us all.

Alongside some incredible talks on the main stage, there were also a host of ‘breakout’ rooms throughout the day which delved further into the nuances of the industry, and focussed on topics the speakers specialised in. Talks here included the way that AI may be changing the way we in the property landscape do business in the future, the benefits of marketing not only our properties but our personalities and knowledge of the market and showcasing industry insights, and the way we brand our business to stand out and be ahead of competitors.

One of these sessions was co-hosted by our very own GM, Toby Martin. Toby and his band of property marketing pros gave us all a valuable look at what it takes to become a ‘marketing superhero’, and gave an amazing insight into the reasons why we as property experts, shouldn’t be all sell sell sell when it comes to social media and our online presence, but become more tell tell tell. Tell the potential landlord or home buyer why we should be the ones they chose to come to through telling our audience about the trends in the market and becoming a place people come to for knowledge within the market. Tell everyone who we are as individuals. People buy from people and we want people to feel they can approach us, know us and trust us before they’ve even stepped foot into our office.

The whole team here are bursting with excitement at being within this market over the coming months. This year’s Propertymark One was a great day, and we can’t wait to be back next year. With the general election brewing and almost upon us, with potentially a new party coming in for the first time in 14 years, the market is due to see some new, and hopefully welcome, changes. We look forward to sharing all this with you as we find out more.

(p.s. We got to see location, location, locations’ one and only Phil Spencer in person!)

If you want to list your rental property with us, find a new place to rent, or begin searching for your new home to buy, then get in touch with our team. All details can be found in the ‘contact’ tab above. We can’t wait to hear from you.

Rental Market Update: May 2024

Posted on by prateek

With an election just announced, the latest trends in and the summer holidays fast approaching…Toby is here to catch everyone up with the most recent trends from the rental market here in Bath!

As always, the YouTube video is below. Let us know what your thoughts are in the comments. Until next month folks!

A Bath Landlords Perspective on Recent Trends.

Posted on by prateek

Between 2020 and 2022, demand for properties in the UK far exceeded supply. This drove rents to unprecedented levels.

Here in the southwest, for example, the average rent has risen from £913 per calendar month (PCM) in 2016 to £1,339 PCM year to date in 2024.

Despite this, the last 12 months have seen a slight increase in the number of properties available for rent, both nationally and regionally. This is lending to a more balanced market. This article will explore these trends and see if the same is happening within Bath.

NATIONAL AND REGIONAL TRENDS IN BY-TO-LET:

Nationally, the rental market has witnessed a notable shift in the last 12 months. During the pandemic, many factors contributed to the surge in rental prices. There was a migration of people seeking a larger living space and avoiding the disruption of new housing developments. As restrictions eased, the rental market began to show signs of stabilisation. In a bid to help mellow the rising rental prices, there has been a slight uptick in the supply of rental properties.

In April of 2023, the average rent achieved for a new UK rental property was £1,641pcm. By April of 2024, this has increased by 8% to £1,772pcm.

This is a positive sign for rental prices levelling out, as only 12/18 months ago, the increase was in the mid to late teens.

The southwest continues to be ahead in this national trend of rent increases. In April of 2023, the average rent of a new property coming to the market was £1,166pcm. This increased 12.3% in April of 2024, to £1,309pcm.

The increased supply of rental properties has brought relief to tenants, who had been grappling with 20%+ increases in rent per annum for some types of properties over the last few years.

So, landlords, what does this mean for you?

Despite this rise in supply, the demand for rental properties continues to remain very robust. This ensures that yields continue to be attractive for landlords.

THE BATH RENTAL MARKET:

On a local level then what is going on?

Well, a similar trajectory can be seen here in Bath. Post-pandemic, rents have been surging due to that imbalance in supply and demand for rental properties.

For this analysis, we are looking at the first four months of 2023, versus the first four months of 2024. In 2023, 1,227 properties came to market in the Bath area (For this the postcodes are BA1/2) and attained an average rental value of £1,684pcm.

IN THE FIRST FOUR MONTHS OF 2024, 1,158 PROPERTIES HAVE COME ONTO THE RENTAL MARKET ACHIEVING AN AVERAGE RENTAL VALUE OF £1,860PCM, A RISE IN RENT OF 10.5%.

So, for landlords present and future, is buy-to-let a savvy scheme to invest in, in 2024?

Despite recent market adjustments, Bath remains a compelling investment for several reasons. They are as follows:

  • Strong Rental Demand:

Bath’s rental market continues to benefit from strong demand. The city’s attractive location, good transport links, and quality of life make it a desirable place to live, ensuring a steady stream of potential tenants.

  • Affordable Property Prices:

Compared to other regions, Bath offers a relatively affordable price. This combined with solid rental yields and long-term, stable, capital growth, makes it an appealing option for buy-to-let investors.

  • Economic Growth and Development:

Bath continues to experience solid economic growth. Ongoing developments within infrastructure and amenities are not only increasing the quality of life for residents but it is also boosting the rental market by attracting more people to the area.

  • Long-Term Investment Potential:

Recent stabilisation in the rental market suggests a move towards long-term stability. For landlords, this means the potential for consistent long-term rental income and growth over time.

WHAT ABOUT OUR TENANTS IN ALL OF THIS?

Tenants may be feeling concerned about all of this. Burdened by the recent increases in rent, it is important to note that these rent rises have aligned with the rise in inflation over the medium term since 2016. So, in real terms, the cost of renting has not disproportionately increased. However, some tenants are still continuing to struggle due to a lack of rise in wage rates.

There is a glimmer of hope for those tenants wishing for a more balanced market and reduced rate of rent. With more supply leading to more opportunities for renters to find a home that suits their needs and their budgets, it is likely there is more place for tenants to get their rent down.

THE FUTURE OUTLOOK FOR BUY-TO-LET IN BATH:

Looking ahead, the market here in Bath appears poised for continued growth and stability. This is due to the combination of strong demand, affordable prices, and the city’s continued economic growth. Mixing this all together leads to Bath remaining a valuable investment opportunity for potential Landlords.

Now is an opportune time for those sitting on the fence about the buy-to-let market to enter. The local and national stability of rental prices indicates a mature and sustainable market that has reduced risk and volatility.

Bath Property Owners Reap £12,417 Yearly gains since 2001.

Posted on by prateek

Yes, that’s correct. On average, since the start of the turn of the millennium, homeowners in the Bath area have seen gains at an average of 8% growth year-on-year.

A ‘steady as she goes’ restriction in house price increase has been seen over the last few years since the pandemic hit, and this is likely to continue beyond 2024. However, we must look at the LONGER term. As much as we love to look into the short-term gains, the housing market is a medium to long-term investment for many people, so it is important to look at the house prices over this time. So, let’s look into the numbers:

ALL HOMES – (2001) £156,197 –> (2024) £442,791 = +£285,594 (8%/Yr)  

APPARTMENTS – (2001) £116,254 –> (2024) £314,394 = +£198,140 (7.4%/Yr)

TERRACE/TOWNHOUSES – (2001) £139,962 –> (2024) £494,790 = +£354,828 (11%/Yr)

SEMI-DETACHED –  (2001) £193,857 –> (2024) £402,413 = +£208,556 (4.7%/Yr)

DETACHED – (2001) £320,152 –> (2024) £643,462 = +£323,310 (4.4%/Yr)

Now, when looking at these numbers it is easy to forget that there has been 79% inflation over those 23 years, which eats into ‘real’ value. So, taking that into account, the real gains are as follows:

ALL HOMES -> +£158,928 (£6,910/year)

APPARTMENTS -> +£110,262 (£4,794/year)

TERRACE/TOWNHOUSES -> +£197,456 (£8,585/year)

SEMI-DETACHED -> +£116,058 (£5,046/year)

DETACHED -> +£179,917 (£7,822/year)

So, after inflation has been accounted for, the annual profit for an average Bath home stands at £6,910. This also shows that despite events such as the 08/09 credit crunch, which saw house prices plummet by over 15%, homeowners in Bath have still faired well over the longer term.

SO WHAT ABOUT BATH LANDLORDS?

Even though the number of landlords liquidating their property portfolios has increased in the last couple of years and the number of landlords buying is lower than in the 2000’s and the 2010s, there is still net growth in the size of the private rented sector each year. The simple fact is many Bath landlords remain keen on expanding their property portfolios for the longer term, despite current higher tax rates.

Alongside this, the younger generation sees renting as a choice that offers flexibility and alternatives that homeownership does not provide. This means that demand for rentals will keep growing, allowing landlords to enjoy rising rents and capital appreciation.

However, Bath Buy-To-Let Landlords must adopt a more thoughtful strategy to maintain a good return on investment. With changing laws around taxes and the balances in power, achieving returns similar to that of the last couple of decades requires more effort. If you are seeking advice on a long-term goal you have in mind for your property portfolio, then get in touch with our team here.

The Great British Garden

Posted on by prateek

This week we wanted to reflect on what can make or break a property for prospective tenants when viewing or searching for a new rental. Time after time we are given requests that the property must have a good garden for the kids, or for couples to have their friends round for a meal in the summer and enjoy a good British BBQ, yes I am talking about the ones where we all go and sit outside in our garden, beers and drinks in hand, to then have to run inside to hide from the inevitable downpour.

So with that being said, the great British Garden, a green sanctuary that reflects the homeowners’ personality and style. Our love affair with our gardens is more than an aesthetic preference; it’s a testament to the value we place on our outdoor space. Whether it is for the kids to run around, families to enjoy a relaxing bathe in the sun, or for the dog to lie on the patio and get a well earnt rest, we all enjoy our time in the garden (at least when it isn’t raining).

As a letting’s agent in Bath, we see firsthand how a well-presented garden can have a significant impact on the appeal of a home to prospective tenants. A beautifully landscaped garden not only captivates potential tenants, but also can be what provides a tranquil retreat away from the hustle and bustle of the 9-5 or the often-stressful times that family life gives us.

These green havens can be the deciding factor when tenants are looking to rent. So, as a landlord, investing time and care into your homes garden can not only be a labour of love, but a savvy decision that will pay dividends when letting out your home.