No Chilly winds for Lettings Market

Traditionally at this time of the year the lettings market normally takes a backward step, with a lull in enquiries.

However according to letting agents Kevin Cox of Igloolets.com in Bristol said “ It looks like we are going to being going into the autumn and run up to Christmas with full on demand for vacancies. It’s been a long time since I have ever seen this type of demand at this time of year”

Because of the lack of housing stock, numerous tenants are vying for properties on offer. Currently some agents in parts of the UK are seeing 10-12 applicants for each available property

There is strong demand for apartments in new build developments, as more traditional build properties are simply just not available

This demand has seen tenants attempt different approaches in order to secure the property they want or one in their most desired location.

As a result, tenants are opting for longer term leases and premium leases (whereby the tenant pays rent in advance for an agreed period) to protect themselves from rent rises for as long as possible.

In some cases this is prompting tenants to rent in high quality developments located on the fringes of traditionally popular areas, offering excellent facilities at more affordable prices.

Kevin Cox further said “With the anticipated bad winter we are expecting again this year, new build properties are a good choice, since they will offer well insulated and warm environments, and along with double glazing. Which for more tenants with the increased heating charges will see as a trade off against more traditional properties”