Your local property experts bring you the latest industry news, this month written by Damon Robbins, Managing Director on behalf of Foxes Sales & Lettings.
As we reported last month, the housing market has seen a surge in interest since lockdown restrictions were eased. But it isn’t just sales properties that are in demand. The rental market is also showing encouraging signs of growth – a welcome piece of news for landlords in the same month the government extended its ban on tenant evictions.
In the latest market survey from RICS, respondents reported a notable recovery in tenant demand from May to July, and a net balance that was up by 35%. The same survey also reported a recovery in rental growth expectations for the next three months, whilst the latest national data from the Property Activity Index reported stable activity in July – a month that normally sees the rental market slowing down as summer holidays begin.
These are all good signs that the rental market remains buoyant and locally, the picture for buy-to-let landlords is equally encouraging. At Foxes Sales & Lettings, we saw a 35% increase in new instructions from May-August 2020 compared to the same period in 2019, with properties letting on average seven days quicker than in the same period a year ago too. Properties to let by Foxes are typically snapped up within a few days, thanks to targeted cross platform advertising including paid for social media promotion.
If you would like more information about how Foxes can help you find the right tenants fast, or simply want a chat about the local lettings market, contact us today on 01202 299600 or email
lettings@foxes.co.uk.
Call us on 01202 299600
Email hello@foxes.co.uk
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