RENTAL MARKET UPDATE: Prices not going up, nor down as RENTS CONTINUE TO HOLD STEADY 🔺🔻
#CAVENDISHEXPERTS in Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
Remember back in July last year? 82% of Tenancies were seeing a rent rise, not anymore.
In fact, the majority of Agents now seeing rents remain the same.
🔸 Demand for Tenants remains strong despite recent price increases
🔸 Tenant demand rose rose sharply in January (108 per branch) compared to the December lows (64 per branch)
🔸 The number of properties available to rent per member branch remains steady
🔸 However, the steady state of supply cannot match rising demand, with an average of 11 prospective Tenants registering for every available property in January
🔸 Majority of Agents now seeing rents remain the same on average
🔸 52% reported rents remaining the same month-on-month on average in January
🔸 This is the first time we have seen this since the depths of the pandemic in 2020 when many Landlords held rents steady
📩 Download full report from Propertymark here 📩
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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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