x
By using this website, you agree to our use of cookies to enhance your experience.
STAY CONNECTED!
    
newsletter-button
CORONAVIRUS UPDATE

See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 274,762 | UK Deaths: 38,489 SEE MAP Italy Confirmed cases: 232,997 | Italy Deaths: 33,415 | Italy Recovered: 157,507 SEE MAP Spain Confirmed cases: 239,479 | Spain Deaths: 27,127 | Spain Recovered: 150,376 SEE MAP See the latest Coronavirus statistics from across the world on our world map SEE MAP UK Confirmed cases: 274,762 | UK Deaths: 38,489 SEE MAP Italy Confirmed cases: 232,997 | Italy Deaths: 33,415 | Italy Recovered: 157,507 SEE MAP Spain Confirmed cases: 239,479 | Spain Deaths: 27,127 | Spain Recovered: 150,376 SEE MAP

TODAY'S OTHER NEWS

Demand for rental property increases by a third

Demand for rental property is up 33% compared to this time last year as market restrictions ease and renters plan for the near-term future, according to Rightmove. 

Monday 18th May saw the highest level of rental demand ever recorded in one day on the property website. 

In terms of new stock, almost 23,000 new rental listings have come to the market since the first day of reopening, down 10% on the same week last year. 

Total available stock for rent is now up 13% since before lockdown

Asking rents are currently up 2.1% on 2019, down from an annual rate of 3% before lockdown. They are on average £1,089 per calendar month for all of Great Britain.

The biggest increase in rental searches compared to last year are in Rotherham (+97%), Cambridge (+77%) and St Helens (+75%)

Miles Shipside, Rightmove’s housing expert, said: “One week on from the surprise opening of the housing market and agents are still showing caution and quite rightly putting safety first, but many had already started to prepare during lockdown and so have been able to start reopening their branches and conducting viewings. 

“The activity jump on Rightmove proves the determination of home-movers to continue with their plans over the next few months. 

“The pause button put many of the usual metrics we report on out of kilter and so a week’s worth of data should only be taken as an early indication of activity, but it’s certainly encouraging.”

  • icon

    As predicted Rents are up!!! Just let a 3bed and they were fighting over it. We rejected the dross applicants (chancers in this climate) and took our pick.
    It’s quite simple to understand why.

    People splitting up - this creates two homes needed than one.

    People deciding to take advantage of the time as their work has put them on furlough

    People like to move they want a change

    Unfortunately as section 24 kicks in, council tax still charged to me even though I wasn’t allowed to trade under the lockdown officially, agent passing fees onto me I had no choice but to pass this to the new tenant. Shelter, GR and Acorn take a bow keep up the good work you are making me richer

icon

Please login to comment

Zero Deposit Zero Deposit Zero Deposit
sign up