Surge in sellers renting ahead of their next move
September, 2021
With the sales market continuing to boom, many homeowners have secured a high price for their home in 2021, choosing to put themselves in a stronger position by renting during this stop gap period.
If you’re living in a rented property, you are normally able to move quicker due to not being part of a chain.
Rather than feeling pressured to act fast, this means that you're able to negotiate for the property and price you want.
It's also an incredibly sought-after position to be in when a vendor chooses who to sell to, as without a chain, the sale will be more likely to complete instead of falling-through.
The number of sellers looking for rental homes has contributed greatly to the dwindling stock of rental properties and consequently increasing rents. As a result, there were nearly half the number of properties on the rental market in July than this time last year, with the numbers continuing to drop.*
This is encouraging for landlords, as their properties are in demand with void periods falling rapidly.
But it’s not just homeowners looking to rent.
Due to the pandemic, many tenants no longer have to be tied down to one location.
With working from home now the new norm, a short commute is no longer desirable and moving away is more feasible. This year, 49% of tenants moved just because they wanted to live somewhere different, as opposed to moving from necessity.**
Are you looking to sell your home or put your property up for rent? Our dedicated team offer free, accurate and no-obligation valuations for both the sales and lettings market.
