Summer Property portfolio 2024 - Flipbook - Page 13
RENTAL MARKET REVIEW
LET
Rightmove Q2 3 2024
Rents hit new record, as
property receives 17 enquiries.
LET
average
Average advertised rents outside of
London rise to a new quarterly record of
£1,314pcm, now 7% higher than last year
(£1,231 pcm).
The number of enquiries each property is
receiving from would-be tenants is now
17 which, whilst down from 26 in 2023, is
more than double at this time in 2019.
LET
Despite overall rental supply improving
from last year (+14%), the number of
rental properties available is still 20%
below pre-pandemic levels.
Tenant demand is down 16% compared to
last year, however, 22% more tenants are
looking to move than in 2019.
We have an impressive mailing list
of applicants looking for their next
property to rent, so if you are
looking for some help with letting or
just after some advise, please do not
hesitate to get in touch with one of
our team who will be happy to help.
There have been some early positive
signs
from
the
new
government
regarding improvements in the rental
market for tenants however, Rightmove
suggests more support is needed for
landlords to invest in good quality homes
for the private rented sector.
Our Shropshire Office
8Franks Barn9
Millie Hinds
BSc. (Hons)
Graduate Surveyor
Page 13