Connells' half-year lettings sector figures show a 24 per cent increase in the number of prospective tenants registering with its branches - far in excess of the growth in supply.
The Connells group - which last week announced it was purchasing the Peter Alan agency which operates throughout Wales - recorded an 18 per cent increase in instructions in the first six months of 2014 and a 26 per cent increase in the number of tenancies agreed.
Demand from tenants is certainly playing its part in the Group's improved figures, but our expansion and sustained investment into Connells' lettings operation is more significant claims Stephen Nation, group lettings director.
The group's most recent lettings expansion programme started in 2011 and up to the end of 2013, some 92 new lettings branches had been opened. So far in 2014, another 43 have launched with a further 32 planned before Christmas and 75 planned for 2015.
Most of the 26 Peter Alan branches have lettings divisions.
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Comments
Sorry I will offend many colleagues on this site when I make the following comment:
It worries me greatly when I see what have been Estate Agents venturing into the letting market because of falling revenues in the past in sales. I worry that they see the industry as a cash cow and an easy buck when all us Letting Agents know it takes hard work, dedication and an in-depth knowledge of the industry to provide a good service.
I just hope their offices opened are not staffed by 18 year old kids spurred on with a promise of lots of commission if you let anything to anyone this month.