Lettings Market Update
04 December 2023
Paramount Properties
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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
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