valuation

Demand for rental properties has reached new heights

Posted on Monday, June 28, 2021

In April, the lettings market saw a record-breaking number of enquiries from new prospective tenants, and the demand shows no signs of slowing down now we've reached summer!*

The average rent of a newly let property outside of London is 8% higher than in February last year, which equates to £68 more per month.

 

This increase in demand for rental properties has been influenced by the pandemic, as potential buyers have either delayed their plans due to their financial stability or concerns.

Furthermore, as the furlough scheme is relatively new, lenders tend to be reluctant to provide mortgages to applicants where their employment status is changing or uncertain, meaning that renting may be a more viable option for those still out of work.

Rent prices ?

67?per cent of agents said they saw landlords increasing rent over the last 12 months. This figure has doubled since 2019.

At the same time, the number of tenants able to get a rent reduction decreased by 1.7% – the lowest recorded number since January 2020.

Selling up

The number of landlords selling their buy-to-let properties has decreased year-on-year.

With the market booming, this has remained consistent over the last seven months.

If you're looking for a lettings valuation of your property or need help managing your portfolio, contact us for more information on: 01256 807 111 or visit: sansomeandgeorge.co.uk

*Propertymark’s latest private rented sector report



Basingstoke Office

01256 807 111

EMAIL US

Bramley Office

01256 882 979

EMAIL US

Tadley Office

0118 981 0022

EMAIL US

Kingsclere Office

01635 297 111

EMAIL US

Theale Office

0118 9078 111

EMAIL US

Newbury Office

01635 881 090

EMAIL US

Mortimer Office

0118 933 1773

EMAIL US

Head Office

01256 636 960

EMAIL US
Quotation mark

I was pleasantly surprised by the courtesy, responsiveness, attention to detail and willingness to help on the part of the sales staff (in particular Nick and Brendan) from the outset. They understand what "going the extra mile" actually means, and this made the transaction so much easier than I had anticipated, as I was necessarily dealing...

View Testimonials