East Midlands 2ND HIGHEST in the country for TENANT DEMAND 🥈... as London RECORDS LOWWWESTT RENTAL LEVELS 🔻
October key findings from ARLA Propertymark - Download the FULL REPORT below 📩:
✅ Average new prospective Tenants per branch FELL all the way down to 71 - it was over 100 a few months ago! 👇
✅ And in October 2020, there were 88 Tenants registered per branch 🙋♀️
✅ However, in the East Midlands right now we are registering 108 Tenants per branch - PLENTY of demand 🥇
✅ Tenants experiencing rent increases fell two months in a row, 68% of Landlords increased rents compared to 75% in September 💰
✅ The number of Tenants successfully negotiating rent reductions increased from 0.5% in September to 0.8% in October 📉
✅ RENTAL STOCK: Managed properties per branch decreased from 199 in September to 196 in October.
✅ In East Midlands, it's just over 250 but in London each agency manages on average 69 properties ⏬
✅ In October, Tenants viewed a property an average of 5 times before it was let (the same as last month and entire year since June 2020) 👀
✅ In October, Tenants stayed in their rental properties for 21 months on average, a slight increase from 20 months in September 👍
💬 Comment from Nathan Emerson MNAEA MARLA MNAEA(comm) of ARLA Propertymark:
"Low rental stock being exacerbated by the current legislative and regulatory changes taking place, as well as energy efficiency targets, both of which are squeezing Landlords and making them consider leaving the market. Under this increasing pressure, it is crucial that measures are introduced to retain landlords and incentivise more into the sector" 🆘
🔍 Want more detail and lots of bar graphs? 📊 DOWNLOAD FULL REPORT HERE: https://lnkd.in/dGqvVXtj
🙋♀️ 𝐀𝐫𝐞 𝐲𝐨𝐮 𝐦𝐚𝐱𝐢𝐦𝐢𝐬𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐫𝐞𝐧𝐭𝐚𝐥 𝐢𝐧𝐜𝐨𝐦𝐞?
Get in touch with our EXPERT TEAM today and we'll let you know 🦹♀️🦸♂️
#cavendishexperts #lettings #property #properties #rents #investmentproperty #landlord #tenant #lettingagency #lettingagent #investinproperty #landlords #prsreport #prs #rentalproperty #rents
Cavendish Residential Lettings Agency and Estate Agency in Nottingham
Posted 30 November 2021
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