Demand for rental properties incredibly high

Demand for rental properties incredibly high

Waterfords Lettings in Camberley, Chobham, Fleet and Yateley is currently in the middle of the busiest time of year for the department. Over one in five of all new rental tenancies are agreed in August and September, so the lettings market is currently very busy.

The average monthly rent in the UK is now at a record high of £1,029. In the twelve months to July 2021, UK monthly rent increased by 6.6%, rising from £965 to £1,029.

In July, all regions in the UK experienced an annual increase in monthly rent, with the Southwest experiencing the biggest increase at 12.9%. According to the RICS residential survey, tenant demand rose for a fifth straight quarter, with a current net balance of +52% of respondents reporting an increase in demand.

However, landlord instructions remain in decline, with a net balance of -20%, the fourth consecutive quarter with a negative reading. The imbalance between supply and demand has put upward pressure on prices and rents are expected to increase by 3% over the next year.


 

Rent out your property with Waterfords

Waterfords Letting Agents have a long list of high-quality tenants in need of a property to let in the Camberley, Chobham, Fleet and Yateley areas. If you are considering letting your home rather than selling it then get in touch for professional advice you can trust. If you are an experienced landlord, then find out about our extensive property management packages – we have something for every landlord!

Call us on 01252 235348 or email info@waterfords.co.uk

Source: Dataloft, HomeLet, RICS