What’s in store for the Rentals Market in 2025? 🔮
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Experts at Rightmove using predict Rental Market for 2025... 🔮
🔖 Demand for rental homes remains high, but down from its peak
🔖Earlier this year, we saw an average of 19 enquiries per rental property, and this has now fallen to 11 enquiries per home
🔖But this is still almost double the 6 enquiries we saw pre-pandemic market 2019.
🔖Definitely less people looking to move (-19% compared to same period last year)
🔖 As well as an improvement in the supply of rental homes available (+7%)
🔖 Rents have outpaced wage growth in recent years
🔖 Over past 5 years, average rents have climbed 40%, while wages have risen by 28%
🔖 Renters reaching an ‘affordability ceiling’ – where they’re hitting the limits of what they can afford in monthly rent
Rents will continue to rise, but slower and prediction is for a calmer Rental Market in 2025 🧘♂️
📩Full article from Rightmove here 📩
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