Lettings Market Update – September 2021

Up to date lettings market information

Rising Demand against a backdrop of low supply has seen new records set in the rental market over recent weeks. 

City centre locations are regaining their popularity as the final COVID 19 restrictions are lifted.

According to Zoopla, The market is moving at the fastest rate since 2016, with average time to Rent at 15 days across the UK. Rental growth in some areas of the UK has hit 10-year highs and local to us rental growth in Wigan has reached double figures, at 10.5%.

Demand for rentals is up

lettings market

Rental demand is up 19% compared to last year, while the total stock of rental property is down 13%. Figures for the Northwest for July show an increase of 4.2% with average monthly rental rates reaching £626.  We have had a busy summer season with all of our properties listed being rented within an average of 7 days.

The best letting agent in the area

From the 1st June, our rental properties have had more property views on Rightmove than any other agent. We have lots of applicants still actively looking in Chorley, Leyland and all surrounding villages so if you have thought about becoming a landlord or have a property you are thinking of letting, please give us a call on 01257 451673 for more information.