Rents rise again to new record but growth continues to slow š
#CAVENDISHEXPERTS in Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
Key findings from Rightmove:
šø Average asking rents for new tenants outside of London rise to yet another new record of Ā£1,190 per calendar month (PCM)
šø This marks 13 consecutive three-month periods where asking rents on new properties to let have risen, a
run which stretches back to the end of 2019
šø However, the pace of asking rent growth continues to slow and has now eased for three quarters in a row
šø Supply remains very constrained in the rental market, however it is showing slow signs of improvement
this year
šø Having said that, supply is still historically very low with the number of available rental properties now 46% below 2019ās level
šø The gap between supply and demand remains significantly imbalanced, with the number of tenants enquiring to move greatly outweighing the number of homes to rent
šø Competition between tenants is 173% higher than this time in 2019!
š© Download full report from Rightmove here š©
Photograph: Amy Needham, Sales and Lettings Negotiator at Cavendish Residential
If you are looking to rent a property, contact Amy for the BEST advice (amy.needham@cavendishproperty.co.uk) š
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#CAVENDISHEXPERTS in Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
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