A record month for Lettings
Thursday, July 8, 2021
June was another busy month for our Lettings teams – our best June ever in fact - and recent statistics confirm national trends towards a decrease in void periods and an increase in average monthly rents. Good news for landlords! Average UK rent has just exceeded £1000pcm for the first time (Homelet July 2021) and voids have dropped in all regions (except the West Midlands) reflecting high levels of tenant demand being seen across the UK according to Goodlord.
Tom Mundy, Goodlord’s chief operating officer, commented: “Trade is brisk across the country and tenant demand is extremely strong. As summer continues and the prospect of remaining restrictions lifted, increasing numbers of people are looking to move. Rents are at levels we’d expect to see during the summer. In fact, average rents were higher last month than June 2019, pre-pandemic, showing that the lettings market has continued to go from strength to strength despite the turbulence of the last 16 months.”
There’s more good news for buy to let landlords as Moneyfacts, an independent mortgage market monitor, has reported that with 2,709 products, this month sees the highest number of options on offer to the buy to let sector since March 2020.
If you have a property to let and would like professional advice and a FREE market appraisal of your property, please contact your local Frost office.