Property news roundup: London landlords' returns five times bigger than in the North

Plus, your chance to live in a Grade II kennel, and rising homeowner optimism

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The Independent Online

London landlords have enjoyed total annual returns of 14.6 per cent in the last 12 months, according to new figures.

The report from LSL Property Services indicates that the average return in London is £38,104 per property, more than five times that in the North East and Yorkshire and the Humber.

David Newnes, director of estate agents Your Move and Reeds Rains, part of LSL Property Services, said: "Rental yields remain historically high, and such rental income is still underpinned by a demand-driven lettings market. Meanwhile, rising prices are delivering an equity bonus for landlords, considerably boosting total annual returns. Such equity growth is also an important factor for some landlords looking to remortgage existing properties to fund new purchases. As mortgage availability grows and rates seem set fair for the time being, many landlords will continue to expand their portfolios."

Average rents across England and Wales rose 1.4 per cent in the past year and stood at £742 per month in January. The West Midlands and East Midlands experienced monthly rent rises of 0.8 per cent and 0.6 per cent respectively since December.

The sharpest monthly drop was in the South East, where rents were down one per cent. 

Live in a kennel

A Grade II listed former hunting kennels is on the market with Mortimers in the 1,000 acre Gisburn Park Estate, Clithero. The stone property needs a little work (see above...) but comes with planning permission. Offers in the region of £490,000.

House price expectations

The monthly survey of householders' feelings about property prices from Knight Frank and Markit shows that record numbers believe their homes have increased in value over the last month, while a majority of yhouseholds in every region expect that the value of their home will rise over the next yea.

Grainne Gilmore, Head of UK Residential Research at Knight Frank said: "London is becoming less of an outlier when it comes to future house price expectations. Indeed, house price expectations rose to new record highs in five other regions, including the North West and the West Midlands in February."