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Property Rental Market Remains Buoyant Post Brexit

The Association of Residential Lettings Agent's (ARLA) have just published their most recent agent survey on the state of the lettings market and it certainly makes for interesting reading.

There have been widespread reports of the softening of prices within residential sales (something we haven't seen evidence of in the local area), but the rental market remains very strong with high demand, even in the traditionally quieter summer holiday period. 

From the report:

The latest ARLA figures shows that the average number of rental properties on letting agents books was 5% higher than June.  

Making it the highest level for this year so far. 

The report also continues last month's message of market stability following the Brexit vote - 71% of agents reported no changes in rent and over 60% of agents saw no major movements in terms of supply or demand.  

David Cox Managing Director of ARLA said " Despite reports that the housing market is spiralling out of control post-Brexit, our results paint a very different picture and indicate that the future is bright for the rental market.

Supply is up, as we'd expect at this time of year, and the number of tenants experiencing rent hikes hasn't changed in three months. 

While we obviously need new houses to balance the growing gap between supply and demand, what's positive is that the situation isn't worsening as a direct result of June's Brexit result."

So against this national back drop how does the Huddersfield, and Halifax area compare?

Helen says " We have seen a 7% increase in the number of properties we have let since the beginning of January 2016, to the end of August 2016 compared to the same period in 2015. 

Also in June. July and August we have seen a 4% increase during these months year on year too, howing Brexit hasn't affected the lettings market in our area!"

Looking for experienced professional staff to let your property, or want the piece of mind of renting from one?

Get in touch. 

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