Property companies in Wales have noted an apparent oversupply of rental accommodation across the country.

Beverley Morgan, founder of Cwmbran-based Beverley Morgan and Company, said there is a glut of rental properties currently available.

Speaking to BBC News, she stated that this has coincided with a drop in confidence among would-be tenants.

As a result, many landlords are collecting lower rental yields in an attempt to boost their occupancy rates.

Ms Morgan commented: "The rental values have remained the same, although in some cases landlords are prepared to take less than the asking price."

Her observations were echoed by John Pinn of Cardiff-based Maverick Property Management, who added that owners of older properties in particular are struggling.

He said this is because they are facing strong competition from newly-built apartments which are springing up across the region.

Nevertheless, a recent study by market research agency BDRC found that an increased number of people who own rental accommodation are feeling positive about the outlook for the buy-to-let sector.
ADNFCR-2002-ID-18883553-ADNFCR

Related posts:

  1. Struggling first-time buyers ‘supporting buy-to-let sector’
  2. Rents fall due to oversupply of properties

Leave a Reply

You must be logged in to post a comment.

HOME