Taylor Scott International News
A new property index is being launched in the UK that will include more micro level data aimed at providing advanced insight into buy to let investment. The Landbay Rental Index, powered by MIAC for the peer to peer buy to let mortgage lender, will be available for the first time later this month and will monitor rental prices and market trends across the country. The index is intended to serve as a more practical guide to current and potential landlords looking to invest in buy to let properties, as well as others interested in trends in the private rented sector. Rental trends will be reported by granular geographical levels including region, county and London boroughs. Rents will also be analysed by the number of bedrooms and include detailed analysis and explanation of emerging trends. Each monthly report will contain national and local breakdowns, alongside practical detail for rental asking prices by number of bedrooms with input data sourced from Zoopla. ‘The ability to offer new and highly developed data insights into the buy to let and wider property market is very exciting for us. Our P2P mortgage lending platform was developed using the latest innovations in financial technology, so data and insight are already in our DNA,’ said John Goodall, Landbay chief executive officer. ‘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,’ he explained. ‘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,’ he added. According to Joe Macklin, director of risk and analytics of MIAC, the new index will benefit from the richest available underlying data and the most fit for purpose statistical techniques to deliver a rental index that is both granular and accurate. Continue reading →
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