When the property market re-opened, there was a considerable amount of activity from buyers. This was the main focus for the media, but there was also a significant level of activity in the rental market.
This was expected, and there are many reasons why people were looking to move rental property when they were allowed to do so. Some people grew tired of their home during the lockdown, some households experienced a change in working status, and some families would have undergone changes in the relationship.
There are many reasons for people to move rental property
All these factors are commonly cited as reasons for people to move, so a healthy level of activity was tipped in the rental market when people started moving again. However, the latest figures suggest that activity levels in the rental have remained strong, reaching pre-lockdown levels.
Agency Express has released figures stating that month-on-month data for new listings to let showed a 51.1% rise and the increase in properties let rose to 125.9%. 11 of the 12 regions in the UK which are covered by the Property Active Index reported a rise in new listings “to let”.
In the South East of England, the increase in properties let, on a month-to-month basis rose by 147%. This was better than the figures reported in Central England, Yorkshire & Humberside and East Anglia, where the increases were 144.8%, 134.4% and 110.3% respectively.
Stephen Watson, managing director of Agency Express, said: “This month the UK lettings market has really started to ramp up. The levels of activity have been better than our expectations and daily instructions continue to increase.”
If you are a landlord looking to let in or around Great Dunmow, we can help you reach tenants and provide a high standard of service. One of the most essential pieces of information a landlord has at their disposal is a property value, and we are happy to provide you with a free valuation, or a more in-depth assessment of your rental property.
There are opportunities in the rental market
While the stamp duty holiday will help some people step on the property ladder, the measures will not be enough to assist everyone. Also, not every household wants to buy a home, renting being a preferred option for many individuals and families.
With landlords also benefiting from the stamp duty holiday, lowering some but not all of the associated stamp duty cost in buying to let, it is possible to improve the expected rental yield on offer in property.
We believe there are opportunities for local landlords in and around Great Dunmow right now. This is backed up by industry figures, expert predictions and our own analysis of what is happening in the local property and rental market. If you would like to discuss your options in the local rental market, we are always happy to assist you.
For all letting enquiries in Great Dunmow, please feel free to call us on 01371 874005 or why not email us at email@example.com. With considerable experience in the local letting market, and free valuation services, we look forward to helping you make an informed decision in the Great Dunmow rental sector.