The summer months have had their usual buzz of activity, despite stock levels still being much lower than average. We have seen a slight increase in the number of tenants choosing not to renew their current contract, but overall numbers are still well below normal and this is leading to a continued strain on new stock coming onto the market. The increased price levels that were set in spring have held and it’s still common to have several tenants fighting for the same property. In particular, at the higher demand categories of £1300 to £2500 a month.
The British government has released another white paper called “A fairer private rented sector“ which proposes more radical changes for landlords and agents to deal with. Whilst some of the changes may seem extreme, they are still proposals at this stage and are the basis of further discussion and consultation with interested and affected parties, meaning they could change before any final bill is presented. It’s also worth noting, that due to recent upheaval, the people in charge of the government and department that issued the white paper are no longer in their post. We will of course keep all our clients up to date on any concrete changes that could affect their property and tenancy.
Matt Brooke – Area Manager