The rental market is currently half way through its busiest time of the year. Analysis from Dataloft’s Rental Market Analytics reveals that on average over the last three years, 22% of each year’s tenancies have started during August and September.
Dataloft estimates that this 22% equates to just under 200,000 over the two months.
So why the rise in rental activity?
It can be put down to a combination of students looking to move into accommodation before the start of term, new graduates relocating for new jobs, and families looking to settle in their new homes before the start of the academic year.
As well as this, there is always a surge in existing tenancies coming up for renewal, which further boosts competition for rental properties should occupiers wish to move elsewhere.
How can I take advantage?
Well, if you’re looking to let a property and wanting to take advantage of the increased market activity the best time to get your property on the market was the beginning of August, and the second best time is NOW! It could be the dream home some of these enthusiastic tenants are looking for, and you could be benefiting from the rental income much sooner than you think.
If you’d like to talk to an agent about getting your property on the market and taking advantage of these stats, then please do get in touch to have a chat with an expert member of our team.