Rents rise again to new record but growth continues to slow 🐌
#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:
🔸 Average asking rents for new tenants outside of London rise to yet another new record of £1,190 per calendar month (PCM)
🔸 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
🔸 However, the pace of asking rent growth continues to slow and has now eased for three quarters in a row
🔸 Supply remains very constrained in the rental market, however it is showing slow signs of improvement
this year
🔸 Having said that, supply is still historically very low with the number of available rental properties now 46% below 2019’s level
🔸 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
🔸 Competition between tenants is 173% higher than this time in 2019!
📩 Download full report from Rightmove here 📩
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) 👍
☎📧🗨
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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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