50,000 rental properties needed to bring supply back to pre-pandemic levels š
#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 Rental Report by Rightmove (click here to download PDF in full)
50,000 rental properties needed to bring supply back to pre-pandemic levels
šø Average advertised rents outside of London rise to a new record of Ā£1,291 per calendar month (PCM)
šø Average rents 8.5% higher than last year, but continues to slow...
šø The rental market is still extremely busy, with nearly 50,000 rental properties needed to bring the supply of
rental homes back to pre-pandemic levels
Lots more people available to rent, not as many properties available
š¹ 11% more properties to rent than last year, but 26% below 2019
š¹ 17% less people looking to rent, but 54% above 2019
š¹ 13 enquiries per home, down from 19 at this time last year but nearly triple the 5 in March 2019
Affordability definitely an issue, as price reductions hit 5-year record
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šø Head Valuer and Asset Manager at Cavendish Residendital šø
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#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
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