Grainger sees improved housing market as rental income grows
Private rental sector company Grainger said the recent UK General Election result had driven improved housing market sentiment as it reported a rise in rental growth.
In a trading update for the four months to January 31, the company reported strong overall rental growth of 3.5%, 3% like-for-like rental growth on its private rental sector (PRS) homes and annualised rental growth of 4.5% on regulated tenancy rental reviews.
“Sales income from our regulated tenancy portfolio remains robust and we are seeing early indications of positive market tailwinds, providing strong support for our reinvestment into our PRS pipeline,” the company said on Wednesday.
It added that residential sales were performing in line with expectations with a 40:60 weighting for the first and second half of the financial year.
"The outlook for Grainger in 2020 is positive. Grainger is in a strong position to benefit from the market opportunities following the clear result of the General Election which is already driving improved housing market sentiment,” said chief executive Helen Gordon.