NI Rents still rising above national average

Posted: 28/7/2019

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Northern Ireland rents are contining to grow above the national average, following the major tax squeezes by the government. The UK national was 1.3% for the last year (up to May 2019) according to the ONS, with NI the highest at 2.1%. In fact we have seen higher rent rises here at Key One Property, some in excess of 5% within the last year, even as much as 10% . Many landlords have started to feel the pinch from the substantial tax rises heaped on them by the government and some are selling or have aleady sold up. Those that are still letting out are simply adding the extra tax onto their tenants (exactly what they told the government they would do).  Typically, landlords could be forking out an extra £750 a year on disallowed mortgage relief on an average terrace property in Belfast. That is over £60 a month extra in rent for tenants. Don't blame us say landlords, blame the government! Key One Property provide a full range of letting and management services. Get in touch with us to find out more, we are very easy to talk to: keyone@btinternet.com or 028 9045 6162.

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