Seaside resorts see biggest rental shortage as tenant competition quadruplesÂ
Rightmove has identified which locations are being particularly affected by rental supply shortages – highlighting the effect on seaside resorts as the “staycation” boom continues.
Average rents have increased by 7.4% in the last year
But the total amount of rent paid by tenants across Great Britain has fallen 8% since 2018, says Hamptons.
PCL has ‘turned into a landlord’s market in recent weeks’, as tenant demand surges by 73%
A top estate agency has reported the highest number of new prospective tenant registrations in five years – topping previous records set in June and July this year.
London landlords ‘in the driving seat’ as rental supply plunges 58%
Chestertons has seen tenant demand soar by 55% over the last year, while the number of properties available to rent has plunged by 58%.
Sales & new listings dip as property market ‘takes a breather’
House prices “are expected to continue to climb higher over the year to come,” says the RICS, “albeit the pace of increase is likely to subside somewhat in the months ahead.”
Rent inflation reaches a decade high as tenant demand jumps by a third
“This unprecedented rate of growth is driven by the post-lockdown reopening of cities, and a return among tenants to the city rental landscape,” says Zoopla.
Prime London buyers still splashing out on larger homes
More than half of properties sold over the summer had three or more bedrooms, reports LonRes.
Demand for pet-friendly rentals has more than doubled
Enquiries to letting agents about pet-friendly rentals has jumped by 120% since last Summer, says Rightmove, while London estate agency Chestertons says that about half the phone calls it receives are now from tenants who own a pet and are in need of a suitable property.
Rental market gets moving, with demand, supply & rents all rising
“Many renters that have been sitting tight are now looking to move,” says Propertymark. The number of prospective tenants registered with letting agents is running at an all-time high, with a corresponding rise in stock levels.
London agency reports rental stock levels plummeting by 42%
There were deals to be had last year, says Chestertons, but those now looking to secure a discount are ‘facing a race against time’
London rental market resurgence ‘in full swing’
‘The tide has now turned’, declares Benham & Reeves, as values bounce and stock levels decline