UK rental market shows unprecedented levels of growth and activity | Discuss

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UK rental market shows unprecedented levels of growth and activity
20/08/2013
12:51 pm
News @ Tenant Referencing
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According to Sequence’s latest National Rental Report rental activity is at a 11% high, as demand continues to outstrip supply.
 
The report also reveals that:
  • National average rents have risen by 2% in July & 6% annually (£751).
  • London’s average rents have risen by 5% annually to £1,437 but see no monthly growth.
  • The number of viewings are up 4% on month and 29% annually.
  • New tenancies are up 6% on month and 18% annually and as a result the ratio has decreased to 8.2 viewings per tenancy created, down from 8.3/1 last month.
  • Tenant applications have increased by 4% on month & 16% annually.
  • The ratio of new applicants to every new property remains at 4.4 to 1.
  • The number of mortgage applications are up by 27% annually, but the monthly rate of growth has fallen by 4%.

At landlordreferencing.co.uk we have also experienced a significant increase in landlord and letting agents joining LRS over the summer, which explains our (exclusive) rising monthly tenant alerts. There has also been a continual increase in the amount of landlords uploading their good tenants, strengthening LRS communities even further.

May 2013 Tenant Alert Statistics = £43,000+

June 2013 Tenant Alert Statistics = £81,000+

July 2013 Tenant Alert Statistics = £310,000+

Furthermore, last week was the busiest week LRS has ever experienced, with a record amount of members and guests ever online at one time in our Community Forums, as well as becoming the 5,234th most viewed website in the UK via Alexa.com’s website analytics.

Why is referencing so important? Please read this:  A 3 step plan to getting a better tenant and the rent paid.


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28/08/2013
3:37 pm
@CEScotland
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@LandlordRef

UK rental market shows unprecedented levels of growth and activity >> http://ow.ly/oj9Fz

 

Only following a poor first six months of the year in our area

 

via twitter

29/08/2013
10:09 am
Paul Routledge
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@CEScotland

That’s interesting that you say that about Scotland because we experienced a real lull from Jan to June but now have 5 applicants for every property. Interestingly though we are not seeing a huge increase in migration from other cities where prices are rising although we do get loads of enquiries on the internet and who never seem to get to the viewing and walk ins are all still locals.

29/08/2013
1:07 pm
Amy
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Guests

I have had a rise in applicants from London 

30/08/2013
9:49 am
@CEScotland
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Guests

Paul Routledge said
@CEScotland

That’s interesting that you say that about Scotland because we experienced a real lull from Jan to June but now have 5 applicants for every property. Interestingly though we are not seeing a huge increase in migration from other cities where prices are rising although we do get loads of enquiries on the internet and who never seem to get to the viewing and walk ins are all still locals.

 

Nice to know I was not only one. The problem is LLs read head lines and do not listen to grass roots!!! July & Aug hit records

 

via twitter

30/08/2013
1:35 pm
Charlie-G
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Guests

Paul Routledge said
@CEScotland

That’s interesting that you say that about Scotland because we experienced a real lull from Jan to June but now have 5 applicants for every property. Interestingly though we are not seeing a huge increase in migration from other cities where prices are rising although we do get loads of enquiries on the internet and who never seem to get to the viewing and walk ins are all still locals.

 

I do not trust enquiries from the internet, so have only ever used ads in the local papers. I have been inundated with calls over the Summer months. (Bournemouth & Stockport areas)

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