Lettings Market Update
Demand for rental housing is at a five year high.
If your a landlord in the South Wales area, click on the link below.
The demand for private rented housing has reached a five year high according to new research released by the National Residential Landlords Association following the easing of COVID restrictions.
In Wales over 60 per cent of landlords said that demand for homes to rent had increased. In contrast, just 15 per cent of landlords in Central London said demand had increased in the second quarter of the year. Official data shows that the capital was the only region of the country to see rents fall in real terms.
Our head of residential lettings Holly Davies said “rents are recording a healthy growth in the Carmarthenshire area, in particular on 3 bed houses where we have seen an increase in rent of up to 15% in the last year alone”
Rental demand soars but stock is down
The surge in tenant demand has not been met by an increase in the number of homes to rent forcing rents to be higher. According to Zoopla research, the demand for rental properties has increased by 19% but the level of rental homes available has fallen by 13%.
What could this mean for you?
If you are a landlord with a property to rent, the surge in tenant demand is good news. It not only means you are likely to be able to find a tenant quickly but you are also likely to be able to achieve the rent you want.
If you are a landlord looking to improve their rental yield or you would like to know more about your property’s rental value get in touch, Click here
