As we look towards the autumn and winter trading months, our video below we discusses how busy the local lettings market has been, as well as our current operational situation with Covid-19.
Our industry body Propertymark ( ARLA ) also released some very interesting market statistics below...
DEMAND FROM TENANTS CONTINUES TO REACH RECORD LEVELS
Propertymark’s Private Rented Sector Report for August shows a record-breaking month with the number of new prospective tenants continuing to rise, along with the average letting agent branch registering 101 new tenants, breaking July’s previous record.
TENANCY LENGTHS ARE BECOMING LONGER
Propertymark recorded an all-time high for the average tenancy length for the month of August, with tenants staying in their properties for 21 months on average. This figure was highest in the East Midlands with tenancies lasting 25 months and the lowest in the North East, lasting an average of ten months.