The UK housing market has proved its resilience during the global pandemic and even after, it continues to show its strength. With huge interest from both local and international property buyers and tenants grabbing the best properties across the country, the sector continued to outperform its peer markets. Though the prices are inching up due to this trend but it also poses another benefit for buy-to-let UK property buyers. It is observed that void periods have fallen in England and research has confirmed it too.
Void Periods – are the time that a property sits empty before being acquired by the tenants. The average void time is now 20 days compared to 25 days – last year during the pandemic.
According to a report, landlords are losing around £599 (on average) every time there’s a gap between the tenant leaving and the next one moving in. This is down from £697 in early 2021. It is because the homes are being acquired more quickly each time, so the amount of rent lost is also falling. Moreover, the average rents have also risen compared to previous months.