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Little to be made from letting in the country, says boss

Belvoir
Belvoir

Prospective landlords should buy properties in cities and towns rather than in the countryside, according to one of our leading lettings agencies.

Too many people coming on to the buy-to-let market end up developing a rural property they like the look of rather than an urban home which the market wants, according to Belvoir Lettings.

Belvoir owner Terry Lucking said: "You're not buying an investment property for you to live in - you're buying it for what demand wants.

"With any investment property you've got to look at what the market wants and when it comes to city and rural lets there's more demand for towns and cities than there is for countryside - loads more.

"Why buy something that looks very pretty and it's the kind of place you'd be prepared to live in if it's not in the top of demand? The majority of employment is in towns and cities not in the country and, as a rule, you should always buy where there is employment, education or both.

"If you look at the age of people in the country they tend to be over 40, not under - these people are likely to have already bought their properties and therefore will not be looking for rental accommodation.

"Of course, there is demand for country properties - but anyone investing has got to try to minimise voids and maximise rental income, so that means they need to buy where demand is the strongest."

l For more details on Belvoir, go to www.belvoirlettings.com

The company's Kent branches are in Tunbridge Wells and Victoria Street, Rochester.

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