Lettings Market Update | December 2021

Average rental values exceed £1,000 per month in England and Wales as rental value growth remains in double digits.

Demand continues to outstrip availability of new stock as in both rural and urban locations with properties being let at a record pace.  The average monthly rent in England and Wales sits at £1007 as at November. Which is 11.7% higher than a year ago.

Rightmove report that demand for rental property is 39% stronger compared to 2019. With properties let in just 17 days the quickest ever recorded.  Unscathed in the budget, the Government has also announced that there will be no immediate reforms to Capital Gains or Inheritance Tax. The proposed overhaul has officially been shelved. According to the Property Landlord Survey half of all landlords either invest in property to build an investment business or to provide a pension, and 18% expect to expand their portfolio over the coming year. With a consensus of independent forecasters predicting both property and rental price growth in each of the next five years property is set to remain a sound investment.

We are currently ranking 1st for New Instructions and First for Lets Agreed on Rightmove our stock is moving in record time.  We have new Landlords coming on board with us in the new year and have existing landlords who are building their portfolios with us.  If this is something that you have thought may be an option for you then give us a call  on 01257 451 673 or drop us an email lettings@hometruthslancs.co.uk and we can discuss our services in greater detail. 

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