I’ve been involved with the specialist property lending market for more years than I care to remember, and I can safely say that over the last quarter of a century, few years have seen quite as much change in the buy-to-let market as 2021.
As the UK slowly emerged from lockdown in the first half of the year, it was clear that the impact of lockdown had changed many people’s attitudes to where they want to live. Data from property website, Rightmove, shows that increased demand from renters to live further away from cities has led to asking rents in suburban and rural areas jumping by 11% since before the pandemic started. This is compared to asking rents increasing by just 2% in urban areas.
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