Rental Temperatures Rise in Too Hot to Handle Market

In a recent regional summary statement from the Deposit Protection Service, the Southeast remains the second most expensive region for average rents, after London.

The Deposit Protection Service found that the current average rent in the Southeast rent stands at around £980, with an increase of 1.98% since the last quarter when rents stood at £961 per calendar month.

The popularity of rental properties rose throughout the pandemic due to flexibility and affordability to first-time movers, though flats and apartments saw a slight fall due to the demand for larger properties outside of cities.

However, the first quarter of 2022 saw a new demand for flats with a growth of 2.72%! Matt Trevett, Managing Director of The Deposit Service suggests that “accelerating rent for flats could signal the beginning of the end of the pandemic trend of renters leaving cities.”

With the average price of buying a property hitting new peaks of £300,000 in the Southeast, renting is proving once again to be a popular decision for Britons.

For landlords across the Southeast, now is a great time to bring your properties to the market! With this increased demand for flats leading to renters paying above asking prices on the monthly rental charge, you can be assured that we can help you find the best tenant at the best price! 

The opportunity to jump at the chance offered by the increasing rental demand is open to many. Whether you are looking to expand your property portfolio with another Buy to Let property, or your properties are in a prime commuter location, Pittis can help you.

At Wards, we provide a wide range of landlord services tailored to you and your property. From our tenant introduction service to fully managed services, we are here every step of the way.

*www.depositprotection.com/news/latest-news/2022/dps-rent-index-q1-2022-regional-summaries/