We were interested to see the latest report from a major regional agent in the north, showing that lettings demand in their area is at a record high, with ten prospective tenants for every available rental home. There may have been a little spin on the way their figures were presented- although it made a great headline!
The underlying trend is clear though – there are many more prospective tenants registering with agents, than there are available properties.
It’s the same story here in Bristol.
All our contacts in the lettings business are seeing increased numbers of prospective tenants looking for property.
One of the most telling trends we’ve noticed is a big increase in recruitment by the biggest lettings agents. Obviously taking on extra staff clearly shows the level of increased work, so we find this a very useful indicator of ongoing demand.
We noticed one agency looking for as many as 7 lettings negotiators in Bristol right now!
Of course ongoing increased demand from tenants and a trend towards renting instead of buying property is one of the key drivers for the property investment models which we use.
One of the important consequences of the increased demand, is that landlords have a great choice of quality, reliable tenants, with many professionals and executives with high income and good employment records and references coming through. Many of them are able to move fast too – which along with the competition, leads to reduced void periods as well as increasing rents. All great news for property investors.
As ever of course, the right trends are only part of the story and successful property investment still requires a careful analysis to ensure you get the right property at the right price and at the right time.
Discover more about Property Investment Opportunities at our PIM : 27 September 2012 – 6-9 pm Holiday Inn Bristol
If you want to find out more about property investment, then do make sure you come along to our first Property Investment Meeting – PIM – on 27 September 2012 at Holiday Inn Bristol City Centre – we’ have great speakers, including Peter Hogan as well as a great networking environment and plenty of time to chat to property professionals and get all the latest inside tips!
To your Property Success
Del Brown, Property Options