This year we have found the number of people looking to rent has gone up by almost 23%, in comparison to this time last year.
As an agent we have found the demand to be increasingly high for those looking to rent. Properties that have been made live on the market are gone within 24-48 hours. Even with November and December always historically being our slowest time in the market, it is still very busy.
There is an uneven balance at the moment particularly on the lettings side. We are finding landlords are selling, a lower percentage of investment landlords are buying and tenants are staying longer in properties, which is leading to perspective tenants panic looking and shortage in available stock.
There is also a rise in homeowners selling and renting for 12 months in hope to buy again once the market has “dropped”.
Millie Ruck – Senior Lettings Valuer, Leamington Spa