As house buyers struggle to find affordable properties to buy, rentals look set to outstrip the sales market for the first time since before the Second World War.
I read recently that the UK’s largest estate agency chain, Countrywide, has acknowledged that the sales market cooled dramatically at the end of 2016. There was a boom in March as landlords attempted to snap up properties before the changes in Stamp Duty.
Since then, though, the uncertainty caused by the Brexit vote, lack of properties coming onto the market for sale and general rising prices has led to a boom in lettings.
Countrywide Research Director Johnny Morris was quoted by The Guardian as saying “September saw record activity, with increased numbers of lets agreed and tenants choosing to renew their contracts. On current trends 2017 could be the first time since the 1930s that more homes are let than sold.”
I summed up my January blog last year by saying “I predict interesting times ahead in the letting market.”
If you are a landlord considering letting a property or a tenant looking for a new home why not give me, Eddie Carter, a call on 01684 292154 to discuss your requirements. Alternatively take a look around our website. We specialise in the Tewkesbury, Cheltenham, Evesham, Gloucester, Malvern and Worcester areas.