According to new figures published by Rightmove, the platform saw a whopping 115% increase in enquiries per rental property in the time between December 2019, and December 2023!
From our own observations, we've noticed a notable rise in this aspect too!
UK house prices are poised to defy the projected decline in 2024, according to a prominent estate agent. The resurgence in the property market is attributed to a mortgage pricing competition and the anticipation of interest rate reductions by the Bank of England.
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In summary, it's a year of adaptability and unexpected turns in the property world. The market's resilience in the face of potential upheaval is a testament to the strength and flexibility of those navigating these waters.
2023 has been a year of ups and downs for landlords, with the media frenzy causing concern across the sector... Looking back, however, was a lot of this simply fear mongering?
2023 also brought a significant shake-up with the Capital Gains Tax adjustment. This was more than a policy change; it was a game changer for many landlords. Faced with new financial realities, resilience became the keyword.
Did you know any of these facts about the UK housing market already?
Bonus: According to Rightmove, there's been an uptick in the average number of UK tenants seeking property viewings, moving from 20 to 25.
From 2019, there has been an increase of 19 in the average queue.
Emlyn Akoto-Dwemoh, from John D Wood & Co, said that providing pet references is now an integral part of the βtraditional landlord referenceβ process.
This involves asking previous agents and landlords about a petβs behaviour and the impact it may have had on a rental home.
In light of the surge in pet adoption during and after the Covid-19 pandemic, UK landlords are now asking for 'pet references', which include photographs and detailed profiles of cats and dogs, according to the 'i newspaper'.
Over the past three months, the demand for rental homes has seen a significant surge, as revealed by a study conducted by the Royal Institution of Chartered Surveyors (RICS). This surge marks the most robust quarterly growth in demand since the beginning of last year.