The owner of an independent letting agency says more investment is needed to meet demands of an increasing interest in rental properties in his home city of Stoke-on-Trent.
Shaun Jenkinson, of Sherlock Homes Lettings, experienced the house price crash back in 2008 – just two years after starting his business. Despite shake ups within the property market in recent months, he is confident the industry will stabilise.
He is also adamant that, with news of further regeneration investment coming into Stoke-on-Trent from elsewhere, combined with employment opportunities via international businesses who are also now basing themselves in the city, there is ample opportunity for lucrative investment.
“The property market has had a lot to contend with towards the latter part of last year and in recent months however this will not be for the long-term,” said Shaun.
“Fluctuations will happen and will stabilise. I remember the 2008 crash and although then we saw a downturn in rentals for various reasons, we are seeing an ongoing demand for rental properties right now.
“There is a shortage of rentals – we can see that from the enquires we receive on a daily basis from families and professionals who cannot commit to buying a property.
“Rental yields are very important for someone looking to buy-to let and must be taken note of when looking to invest in our city where properties are achieving around 9% – therefore offering a more than attractive investment for new and experienced landlords. You can get some very nice sized properties in the £75,000 region which can be affordable for tenants and at the same time fetch a lucrative return on investment.
“Our region is attracting attention from international brands such as Amazon and Jaguar Land Rover plus we have two great universities – Staffordshire and Keele. Not forgetting property prices in Stoke-on-Trent – a city in the heart of the country – are a lot more affordable than say London or Manchester.
“There are so many positive reasons to choose Stoke for investment and we are in a great location close to major road links such as the M6 and M1 motorways, and the A50.”
Sherlock Homes Letting Agency has been providing fully managed rental properties in Stoke-on-Trent since 2006. The team located at George Street, in Newcastle-under-Lyme, also source properties for landlords.
