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tenant demand increases in the east midlands by 10.8%

Latest stats from Dataloft Inform show that all regions across the UK saw an annual increase in monthly rents in July with the East Midlands increasing 10.8% showing an average monthly rent of £727.

Latest stats from Dataloft Inform show that all regions across the UK saw an annual increase in monthly rents in July with the East Midlands increasing 10.8% showing an average monthly rent of £727. The region was one of only three areas in the U.K. to exceed 10% - Wales and the South West being the others.

According to the RICS residential survey, tenant demand rose for a fifth straight quarter, with a current net balance of +52% of respondents reporting an increase in demand.

The imbalance between supply and demand has put upward pressure on prices and rents are expected to increase by 3% over the next year. 

Here at Kingswood Residential Investment Management, we are certainly seeing an increase in monthly rent levels and demand for properties of all sizes is high across Nottingham & Mansfield. Those properties with outside space, good Wi-Fi connections and  space for an office / space to work from home are proving very popular and we have tenants waiting for accommodation across the region.

See how Kingswood Residential Lettings & Investment management can help you:

  • Landlord Services (link)
  • Buy to Let (link)
  • Property Portfolio Services

If you plan to invest in property in Nottingham or Mansfield and would like some further information about the local property market, please contact us by calling 0115 704 3163 or 01623 277115. Alternatively, you can email us at enquiries@kingswoodrim.co.uk

 

Source: Dataloft, HomeLet, RICS

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