x
By using this website, you agree to our use of cookies to enhance your experience.

TODAY'S OTHER NEWS

Rental market bounces back with 22% surge in demand

Demand for properties in the private rented sector is up by 22% compared to last year, according to Rightmove.

The data from the property website shows that since letting agents were permitted to reopen on 13 May, the demand for rental homes has increased at a quicker rate than the sales market.

Lockdown break-ups, job losses and urgent relocations are thought to have contributed to an increase in the surge in the rental sector.

Advertisement

Wednesday 27 May saw more than six million people visit the Rightmove website, its busiest day ever.

“They may need to move for a job,” said Miles Shipside of Rightmove. “In this environment we are in now, there is a need for people with specialist jobs to be in a certain place - just think about the Nightingale hospitals that have sprung up.” 

He added: “Where some people have enjoyed lockdown, others’ relationships haven't survived it and this has had knock-on consequences.

“There could be people who need to move because of job losses too.

“And working from home has left a lot of people looking for a change in surroundings.

“Effectively we have two months of pent-up demand that needs to be satisfied.” 

Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.

  • icon

    Reading the article, the heading "Rental market bounces back with 22% surge in demand" should actually read "Rental market bounces back with 22% surge in online searches" - which of course is a very different matter.

  • icon

    Early days to say bounces back, no doubt there will be many marriage break up brought about by this lock down, I have a newly single lady moving into a property tomorrow.

    icon

    And now another newly single, a guy this time, due to move in in 2 wks, will then be fully let again, all these marriage / partner break ups due in the main to lock down, good news for us landlords.

     
  • icon

    Apparently, there is an extreme shortage of properties to rent in Bristol at the moment.

icon

Please login to comment

MovePal MovePal MovePal
sign up