Lettings Market Update Spring 2024

1 June, 2024

As predicted at the beginning of the year the rental market has started strongly this year with plenty of new tenant applications, far outstripping the available supply. Rents have continued to rise, albeit at a slower pace, as the economy and jobs market also slow.  For the time being the advised changes, proposed in the Renters Reform Bill have been put on hold, although we are certain that the proposals will return when a new Government is formed. Good Landlords should not be fearful of these changes, as they may well reduce costly legal battles, as well as provide a forum for Landlords to seek a more balanced legal framework going forward.

Overall 2024 continues to looks at being a good year for our Landlord clients, with persistent high demand for rental property, from a great pool of potential tenants. It has also been noticeable that as older clients have left the industry, they have been replaced with a new generation of Landlords, who are focussed on providing a quality property and good service to their Tenants, which is great for all concerned.

If you would like any lettings advice or have a property to let, please get in touch with your local Pearsons Lettings Team 

Simon Pinkney FNAEA MARLA

Director