If you are thinking of buying a house to let – now is the time!
The demand from tenants reached its highest on record for the month of April 2021 and continued to grow into May with letting agents registering 82 new tenants per branch last month, according to the latest Private Rented Sector report by ARLA Propertymark.
The number of rental properties on the market in April continued to pick up, with the volume of properties managed per branch increasing from 193 in March to 201 in April.
With the demand being so high, tenants are experiencing rent increases, Propertymark saw rent rises increase in April, with 67% of agents witnessing landlords increasing rent compared to 60% in March.
“We continue to see unprecedented demand from tenants with a record breaking number of new prospective tenants registered per branch for the month of April, showcasing the booming rental market.” Mark Hayward, chief policy advisor, Propertymark.
We will be keeping a close eye on the sector in the coming months as the current strength of the sales market may be off putting to private rental investors, and talk of a potential impending taxation on property will be a concern for all types of landlords, but ultimately it is positive to see rent continuing to flow this month.
If you would like to find out more please contact our qualified, professional and experienced lettings team on – 01282 417775 or email [email protected]
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