Lettings Market Update

Paramount Properties

Lettings Market Update

"The rental market winter deceleration period has begun.

We are seeing fewer applications to view properties that we have on the market and receiving a lot more pressure from the market regarding the price point.

In comparison to the September numbers, which showed 495 units being let in the reported 8-week period, that number has taken a slight decline. From 1st October to the present day, 361 units have been let, of which 257 properties have a rental price of £2,500 or less.

We are still achieving our success rate of having an offer agreed upon at 97% of the market price within eight days, which shows that our carefully thought-out marketing and pricing strategies are functioning well.

These include striving for tenancy periods to be agreed at 15-18 months to ensure that our applicants and our owners are remarketing their properties in the most effective property period"

- Lauren Dempsey, Lettings Consultant