The UK rental market continues to be successful.  For those who are looking to jump into the landlord side of owning property, times are good.  On top of that, rents continue to go up.  Prices for rent have increased almost 1% across England and Wales in September alone.  The average rent is up to 718 pounds per month, which is a record high.

South East England and the East Midlands have both seen increases during the month of September.  South East England experienced a rise of almost 2% and the East Midlands posted a 1.1% increase.  This is even more confirmation that buying property in the UK is a wise idea.  The low interest rates combined with rising rental costs equals a successful situation, if you can afford it.

According to the Association of Graduate Recruiters, incomes for those holding their first job average around 25,000 pounds.  It is not surprising that most of those who have just started work cannot afford the high deposit which is currently required to jump onto the property ladder.    Hence, the continued increase in the number of buy to lets which are selling, as well as those which are being rented.  The average age of a first time home buyer has now escalated to 37 years of age.

Not only are buy to let mortgages now more popular, but remortgage buy to lets are increasing in number as well.  The best deals in both cases will be reserved for those able to put down a significant deposit.  Those who can offer at least 20% are now starting to see some opportunities, according to Michelle Slade of moneyfacts.co.uk.