Lettings demand at 9:1 compared to available properties

Leading professional body Propertymark revealed high demand for to-let properties continued in October. Reports found that registration of prospective tenants was at 9 to 1 in comparison to the rental properties available.

The supply of available rental properties remained steady in the previous 4 months, with a small increase in October averaging 2 per branch nationwide, yet to meet the high demand.

Lettings insight shows that regardless of rising living costs, landlords can still benefit from the rental market. According to Propertymark, 68% of agents reported rising rental prices in October, with the number of increases still higher than pre-pandemic levels.

With such a large pool of prospective tenants available, property is letting fast, and at the right price to help cover landlord expenses.

“Demand for our rental properties continues to surge, whilst supply is low. We have an incredible number of qualified tenants on our database, waiting for a home suited to them. Landlords have some superb incentives to enter the lettings market right now.”

Tracy Cook, Lettings Manager

With so many prospective tenants hoping to find a home in one of our popular local areas, this is a fantastic time for landlords to acquire a rental income.

Take advantage of the current rental market to make the best return on your buy-to-let investment. For more information or advice on recent government legislation, please contact our Lettings Department on (01252) 514000, or to email, click here.