This autumn we have seen rents start to settle after three months of rapid price rises across England. As reported by one industry website, average rents on fresh tenancies did not seek the same hikes we had for the previous quarter.
Normally, we’d expect to see a certain reduction in demand in the autumn, at the start of the typically less frenetic cooler months but we haven’t seen that this year with many people still looking for move before Christmas.
What’s more, average rent remains high while, nationwide, demand for rental properties continues significantly to outstrip supply. Meanwhile, one major property portal pointed out recently that rental growth had been running in double digits for 18 months.
Clearly, recent reviews of the lettings market have shown that we haven’t always seen the same rent hikes that we’ve noticed in previous months.
At Oakfield, we weren’t completely surprised to learn that rents had remained at the same levels we had seen in the previous months as the mercury plunged. And, frankly, it’s not something we are worried about.
We are still seeing such a strong demand for rental properties in our areas from good quality Tenants who are keen to be settled in their new homes ready for the Christmas festivities.
There are Landlords exiting the market in a bid to sell up but this is meaning that the Landlords who remain are getting the pick of high quality Tenants who are often looking for long term homes.
At Oakfield Estate Agents, we work hard with all our landlords to ensure rents set are accurate for the property, its area and the current market, to maximise the chances of a speedy, mutually beneficial tenancy. Properties that are being priced correctly are quickly snapped up with Tenants keen to move in within a week or two which is helping to reduce the dreaded void periods for Landlords.
After all, we’ve been managing rental homes across East Sussex for more than a quarter of a century, since our relatively humble beginnings in the 1990s, and now have offices in Eastbourne, Hastings and Bexhill. We know our local market like the back of our hands, and bring many years’ industry experience to our landlord and tenant clients, with a strong focus on excellent working relationships. Plus we pride ourselves on our good, regular communication with everyone we deal with, and we’re keen to match tenants with the homes and landlords that are right for them.
If you’re a landlord, we have many applicants on our books who are looking for a property just like yours to be their ideal next home. Get in touch today – we’ll take the time to get to know you and what you need before we do anything else. For our contact details click here.