Rental market accelerates
In this short article we take a quick look at the acceleration of rents across the private rental sector
- Tenant demand is rising substantially. For agents in the lettings market, the busy season is approaching.
- Analysis of tenancy start dates based on data from the past 5 years indicates the market starts to accelerate in June, with nearly one third of all tenancies starting between July and the end of September.
- The demand for rental properties increased significantly in the three months to April according to RICS, however new instructions remain low, supporting rental price growth.
- Affordability, outside space and broadband are priorities for renters. 87% of tenants are keen to know running costs and 79% broadband speed; information is not always included in property marketing. (Dataloft, Property Academy 2020).