Rental market continues to fly thanks to reducing sup…

Latest figures from ARLA Propertymark counsel the rental market continues to carry out strongly.

Data for February – the newest out there from the organisation – suggests the common variety of new potential tenants registered per department rose to 82, from January’s 81.

Year-on-year this stays the identical as February 2020 however is a large leap from the earlier February determine of 65 in 2019.

Regionally, the West Midlands had the very best variety of new tenants registered per department with a mean 126, with the East Midlands second highest on 123 new tenants. Northern Ireland and The Isle of Wight each recorded the bottom variety of new potential tenants, with 26 registered per department in February.

In phrases of rents, half of ARLA’s brokers noticed landlords rising lease in February in contrast to 39 per cent in January. Year-on-year this determine can be up from 40 per cent in February 2020. The variety of tenants efficiently negotiating lease reductions remained the identical at two per cent in February. 

On the availability entrance, the variety of properties managed per letting agent department fell for the third month in a row from 196 in January to 195 in February.

Regionally, the North East had the very best variety of properties managed per letting agent department with a determine of 284. However, rental inventory was the bottom in London with a mean of 94 properties managed per department.

The variety of landlords promoting their buy-to-let properties remained the identical for the fifth month in a row, at 4 per department in February. Year-on-year this determine is barely decrease than the February 2020 determine of 5. 

**Tomorrow, Good Friday, each Letting Agent Today and Estate Agent Today will likely be dominated by good works undertaken by our business – charitable donations and heroic fundraising occurring regardless of the challenges of the pandemic. Do please verify in on each LAT and EAT on Good Friday and all through the Easter weekend.

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