Rents hit new record, as average property receives 17 enquiries 🏠
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📰 Latest on the Rental Market from Rightmove 📰
🔸 Average advertised rents outside of London rise to a new quarterly record of £1,314 per calendar month (PCM), now 7% higher than last year (£1,231 PCM)
🔸 London rents have also risen to a new record of £2,661 PCM, now 4% higher than last year (£2,567 PCM), with rent growth steadily slowing since the peak of 16% in 2022
🔸 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 the 8 at this time in 2019
🔸 Despite overall rental supply slowly 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
🔸 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
📩Download full report from Rightmove here 📩
For more information on how to maximise your rental investment, contact Lisa at Cavendish Residential (lisa.dahl-parsisson@cavendishproperty.co.uk) 📧
📸 Lisa Dahl-Parsisson: Head Valuer and Asset Manager at Cavendish Residential 📸
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🌟 Instant online valuation (immediate response, 60-70% accurate)... Click here 🌟
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🌟 Face-to-face visit (time to suit you, 100% accurate)... Email expert valuer lisa.dahl-parsisson@cavendishproperty.co.uk to get started 🌟
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