According to studies undertaken for Paragon Bank, the third quarter of 2022 saw the second time there has been a record high from landlords experiencing demand from tenants. The study spoke with over 700 landlords, and there was a net increase of tenant demand of 65%.
In the opening quarter of 2022, 62% was reported, and even allowing for a slight summer lull, the demand for rental property this year is notable. If you are a tenant looking for rental property, we can help. We appreciate the level of competition means this process isn’t as easy as many would like, but with our help, we are confident we can help you find what you are looking for.
We know the Wynyard market well
Alternatively, if you are a landlord, rest assured we have tenants actively looking for property in and around Wynyard. We can manage the process for you, giving a lot less to worry about. Our experienced team ensures you receive the best standard of support and guidance in the letting market, so let us help you.
An interesting part of the study is that only 1% of landlords reported a slight decrease in the level of tenant demand, and no one said there was a significant decrease in tenant demand.
Moray Hulme, mortgage sales director for Paragon Bank, says: “We’ve seen demand for privately rented homes climb consistently since the pandemic. The fact that the all-time high we reported earlier this year has now been surpassed supports our view that the private rented sector remains an essential component of UK housing provision. Renting appeals to people of different demographics and from all walks of life but the flexibility and relative affordability of rented accommodation means its value is even more apparent at what is an economically challenging time for many.”
What do tenants look for in rental property?
Even though there is significant competition amongst tenants looking for rental property, landlords shouldn’t rest on their laurels. We know what tenants look for with rental property, and with our help, you’ll connect with them.
- The location of the property is crucial, and it must fit with a tenant’s needs and circumstances
- The cost of rent, and associated costs is crucial, as virtually everyone is grappling with rising costs these days
- The size of property, and the number of bedrooms, is always an issue for prospective tenants
- The condition of the property matters, so make sure it looks at its very best before placing on the market
- Local amenities matter in the rental market, and tenants are more at home when there are local facilities
Contact Anthony Jones for all Wynyard property matters
If you are looking for help with any matter of the Wynyard property market, it is best to speak to property professionals. No one knows for sure what is going to happen next, so we won’t claim to have all the answers, but the Anthony Jones team is keen to help you as best we can. If you would like to contact us over housing matters, please call us today on 01325 776424.
