There has been a significant increase in letting market activity in East Hampshire, according to Zoopla.
The property portal reports that East Hampshire has seen a 46% increase in letting instructions over the past 12 months, which is higher than any other part of the UK.
The increase in new rental stock comes in direct response to a sharp rise in tenant demand, with the property portal delivering 73% more enquiries from tenants to agents in this part of the country over the corresponding period.
The rental market in East Hampshire is attracting a wider range of tenants than ever before, with more families choosing to rent in the area to be near the highly rated schools and to enjoy swift transport connections to London.
Scott Richardson, from SCR Sales and Lettings, an estate agency business which has a stronghold in East Hampshire, said: “The East Hampshire lettings market is enjoying a real boom. There is a breadth of stock in this part of the county, catering to a host of tenant needs, ranging from new build homes in commutable towns such as Liphook, Farnham and Petersfield, which are popular amongst young professionals, to unique detached properties, which are being snapped up by growing families.
“Complementing its commutability, East Hampshire’s appeal is underpinned by its calibre of schools – both independent and state. For families in search of more space, fresh air, and access to the best education for their children, this area is a honeypot.
“Due to sales market uncertainty, many vendors are electing to rent rather buy, letting out their property rather than selling. We’re also witnessing a step-change amongst family renters – many of whom are now selling up and moving to a long-term rental property.
“Meanwhile, some renters are testing out the local area before committing to it, while others are renting tactically, ready to pounce when their dream property comes up for sale. Either way, it’s injected buoyancy to the rental market, and has opened up a plethora of opportunities for landlords and tenants alike.”
Zoopla analysed the number of leads it delivers to estate agents in over 370 local authorities to identify the areas of the country currently experiencing the highest increases in demand from tenants.
Chichester, in particular, stood out. Demand for rental properties in the West Sussex area is also rising, with Zoopla delivering 23% more rental enquiries to agents here, whilst rental stock also increased by 41%.
Andy Marshall, chief commercial Officer at Zoopla, commented: “East Hampshire offers an attractive combination of attributes to tenants at all stages of their property cycle. Proximity to major towns and cities, from London to Southampton, Portsmouth and Basingstoke, and their respective employment hubs, is always going to draw in the rental community.”
