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TODAY'S OTHER NEWS

Supply and demand on the rise - UK's most active rental markets revealed

There has been a significant spike in activity in the East Hampshire lettings market, according to analysis from Zoopla.

Over the last year, the East Hampshire market saw a 46% rise in lettings instructions, the highest recorded across the UK.

Moreover, Zoopla delivered 73% more enquiries from tenants to agents annually in this part of the country over the same period, showing a rise in rental demand.

The portal monitored new instructions between July 2018 and June 2019 and analysed the number of leads it delivers to agents in over 370 local authorities to identify the UK's most active markets.

There was also a similar trend in Chichester, West Sussex, with a 23% surge in rental enquiries from tenants and a rental stock rise of 41%.

These areas are becoming popular with tenants, and particularly families, due to excellent schools and swift transport connections to London, the portal says.  

"Due to sales market uncertainty, many vendors are electing to rent rather buy, letting out their property rather than selling,” explains Scott Richardson of SCR Sales and Lettings, an agency based in East Hampshire.

"We’re also witnessing a step-change amongst family renters – many of whom are now selling up and moving to a long-term rental property."

"Meanwhile, some renters are testing out the local area before committing to it, while others are renting tactically, ready to pounce when their dream property comes up for sale," he says.

"Either way, it’s injected buoyancy to the rental market, and has opened up a plethora of opportunities for landlords and tenants alike."

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