Rental market update: Tenants continue to outweigh stock levels 🏠
#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
Latest report from Propertymark shows:
🔸 An alarming disparity in the number of homes available to rent when compared with growing demand from prospective tenants
🔸 The number of new prospective tenants registered per member branch showed a sizable jump
🔸 July 2023 showed an average of 187 prospective tenants registering on average compared to 127 in July 2022
🔸 Figures last month were up almost 38 per cent year on year, a continued trend that is predicted to show no signs of slowing
🔸 Stock levels remain challenging with the number of properties available to rent per member branch increased slightly in July to an average of 14
🔸 This is way below what is needed to keep up with current demand
📩 For Propertymark's full report, click here 📩
For information on maximising your rental income whilst ensuring all legalities are 100% up to date... Email Finance and Compliance Director Scott Sneath scott.sneath@cavendishproperty.co.uk (pictured below).
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