Rents hit new record!

Rents hit new record! Do you have a property to let?

Asking rents hit new record and now a third higher than pre-pandemic says the research from Rightmove. National average asking rents outside London hit new record of £1,231 per calendar month (pcm) and average asking rents for new tenants are now over £300 (33%) more than pre-pandemic 2019. 

Are you making the most of your investment?

Homes are continuing to let at speed, with the current time to find a tenant at its quickest since last November despite a slight easing in the gap between demand and supply adds Rightmove. The average property available to rent is finding a tenant in 17 days while tenant demand is up by 3% compared to last year, however available properties to rent are up by 7%.

Landlords currently face multiple market challenges leading some to sell up, however they are determined to keep good tenants in their homes. A recent survey shows landlords are most concerned about government sentiment towards the industry (47%), rising taxation (41%) and increasing compliance requirements (33%). Reassuringly, the majority (57%) of landlords say tenants choose to stay in their properties for longer than 24 months. 

If you would like to find out what rent we can achieve for your investment, please get in touch with our lettings team today.

Arins - letting homes in Wokingham, Lower Earley, Tilehurst, Reading and Winnersh since 2009.

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