UK to get new property index for the buy to let market
The UK is set to have a new property index which will feature more micro level data meant to provide an advanced insight into buy to let investment. The Landbay Rental Index is due to be available for the first time later this month and is powered by MIAC.
This new index is designed for the peer to peer buy to let lender and will monitor a range of different figures including rental process and market trends throughout the UK. The index aims to provide a practical guide to current and potential landlords who are looking to invest in buy to let properties, as well as those interested in the private retail sector.
Each report will hold geographical data by region, county and London boroughs and will also include data about the number of bedrooms, detailed analysis and emerging trends. The index will also feature practical rental prices by number of rooms with data sourced from Zoopla.
John Goodall, Landbay chief executive officer told the press, “We’re confident our partnership with MIAC will give answers to what is driving prices and trends in the private rented sector. Being able to see how rental trends differ by number of bedrooms will be useful in a very practical way, particularly for those looking to invest in buy to let. We hope this tool will prove a useful guide to buy to let investors, and stimulate a discussion amongst industry commentators,”
Adding, “The UK property market is fluid and complicated. To really pinpoint what is happening we need local and bedroom number data. With this index we’ll truly find out who and where is pulling the levers in the rental market.”