The Property Industry
An Opportunity Not To Be Missed
The lettings and estate agency industry is not only booming now, but is predicted to expand considerably over the next few years, with more agents required.
It’s reported that nearly 65% of the homes in UK’s private rental sector are already managed by property letting agents, in an industry with an estimated worth of £10 billion and rising. Similarly, there has never been a better time to become an estate agent, developing an enjoyable and lucrative business while providing a necessary local service. The internet is a great equalizer, allowing independent agents to compete easily with larger more established agencies.
The growth in the UK property rental market is due to several factors –
- The shift towards renting is increasing in large part due to a combination of mortgage restrictions and rising house prices resulting in buying becoming impossible for more and more people.
- The government Help to Buy Scheme is having no significant effect as, without an increase in new housebuilding, the scheme itself is driving up house prices.
- Recently published DOE figures estimate a need for an extra 6 million homes in the next 10 years, due to factors including a rising divorce rate, greater life expectancy, growth in single parent households, students leaving university, and continuing immigration, all swelling the demand for rented accommodation.
- The supply of rental property will continue. Property is seen as a stable and profitable investment medium in our low real interest rate climate, and new landlords are joining the industry every day.
- When you consider that in France 70% of housing is rented, and in Germany the figure is 55%, you can see that there is much room for growth in the UK, where we are more and more adopting European ways, despite Brexit!
“Right place, right time! For any ambitious and self-motivated individual this represents a fantastic opportunity to build a highly lucrative business in the lettings and estate agency industry”