🗝 PRIVATE RENTED SECTOR UPDATE: December key findings from ARLA Propertymark - Download the FULL REPORT below 📩:
✅ Average new prospective Tenants registered per branch fell in December to 67, from November's figure of 82 🔻
✅ Regionally, East Midlands had one of the lowest number of new applicants with an average of just 38 - direct contrast to November where our region saw the most new Tenants 🤷♀️
✅ Landlords aware of difficulties renters are facing as rent increases fell for the fourth month in a row in December with only 56% increasing rents compared to 68% in October 💰
✅ The number of properties managed per letting agent branch decreased from 212 to 204 in December 🏡
✅ In East Midlands, this average is 300 which is more than double the average amount London agencies manage (131) 🏢
✅ Average length of Tenancies are still slightly shy of 2 years 📊
💬 Comment from Lisa Dahl-Parsisson Senior Valuer at Cavendish Residential:
"We expected the December dip but January has been a BUSY month (especially compared to the last 2 years) 👍
We are listing a very high standard of new properties (working on refurbishments where needed) and as a result achieving record high rents for our Landlords 💰"
💬 Comment from Nathan Emerson MNAEA MARLA MNAEA(comm) of ARLA Propertymark:
"As the PRS was under the microscope of policy makers last year and house prices boomed, some Landlords decided to exit and consider other options 🤔
It’s important that new Landlords are enticed into the market to provide much needed homes" 🏡
📩 DOWNLOAD FULL REPORT HERE: https://hood.azureedge.net/cavendish/site/e148fa29-bf14-42a1-b461-3346c54390d5.pdf 📩
🙋♀️ 𝐀𝐫𝐞 𝐲𝐨𝐮 𝐦𝐚𝐱𝐢𝐦𝐢𝐬𝐢𝐧𝐠 𝐲𝐨𝐮𝐫 𝐫𝐞𝐧𝐭𝐚𝐥 𝐢𝐧𝐜𝐨𝐦𝐞?
Get in touch with our EXPERT TEAM today and we'll let you know 🦹♀️🦸♂️
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Cavendish Residential Lettings Agency and Estate Agency in Nottingham
Posted 02 February 2022
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