City rental demand up with the return of offices and students
During the height of the pandemic, we saw many tenants moving out of busy city centres and towards rural and quiet locations, but why?
An example third heading
Just like homeowners, tenants began to quickly change their property priorities over the course of the pandemic, and a good number within the rental sector reflected on where and how they were living.
Now that normality continues to spread across the country, a large proportion of tenants have begun to make their way back to the cities.
With both the return of people going back to office work and students thriving with university life, properties have been in short supply due to the incredible demand from eager tenants.
In fact, the demand for rental properties in London has risen by 60% compared to the same period last year!*
It’s not surprising that London is in high demand, especially given the wide range of employment opportunities it has on offer, which a lot of people will still be prioritising following the effects of COVID-19.
It’s highly likely that with the new year approaching and people discovering new ways of living, rental demand will to continue outstrip supply, further demonstrated by a predicated 3.5% rental growth for 2022 in London.**
Are you looking to maximise your returns as a landlord? Talk to us today.
*Letting Agent Today
**Estate Agent Today
This article was originally published by BriefYourMarket and is reproduced here with their permission.
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