21% Increase In Landlords Searching For Letting Agents

 

In this article we explore the increase in landlords searching for agents and if the surge has impacted rental yields

The stamp duty holiday has created a much needed spark in the property industry, with many buyers looking to take advantage of the tax saving.

Data collected from our letting agent comparison site Rentround, indicates many buyers are readying themselves to place newly purchased properties on the rental market.

Landlord searches on the platform have risen by 21%, since Rishi Sunak’s announcement.

This highlights that buyers are conducting due diligence activities on the potential purchase of a property, bought for buy-to-let purposes.

 

21% Increase In Landlords Looking For Letting Agents

 

 

“The stamp duty holiday has brought a flood of positivity across the property market.

The increase in the number of comparisons run on our platform indicates landlords are looking to add to their portfolios, or that a new wave of landlords are looking to enter the market.

Traffic on the site increased prior to Rishi Sunak’s announcement, based upon rumours that the holiday may apply to the buy-to-let sector. From the 8th of July, when it was confirmed that the holiday applied wider than first time buyers, the number of letting agent comparisons conducted increased dramatically.

I’m proud we’re helping landlords to enter the property market, save on rental fees and connect to their ideal letting agent.” 

Raj Dosanjh, Rentround founder.

The increase in letting agent searches is spread across the nation. However there are pockets of significant increases.

Manchester letting agent comparisons increased by 33%, followed by Newcastle & East London with increases of 31% and 29% respectively.

Volumes of searches in Scotland remained the same, due to the applicability of the stamp duty holiday.

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Rental Yields – Top 50

The latest rental yield data indicates there ought to be higher demand increases in certain hotspots in Liverpool.

Postcodes in this area make up 3 of the top 6 best rental yield areas.

The data also confirms London & its surrounding regions still trial in rental yield returns, with no postcodes in the top 10.

The increase in agent enquiries in this region indicates landlords pinning hopes on longer term capital gains.

 

 

Postcode Avg asking price Average £/sqft Sales per month Turnover (sale) Avg asking rent (pm) Avg yield
W1 2,087,998 1,666 15   2,698 1.6
SW7 2,163,488 1,678 15 3 2,996 1.7
CM4 642,021 454 10 9 944 1.8
RG10 652,809 451 10 5 978 1.8
SW3 1,673,529 1,736 20 3 2,654 1.9
SY13 336,864 185 13 7 541 1.9
HP9 1,048,633 542 10 4 1,664 1.9
W8 1,666,738 1,578 12 1 2,820 2
OX13 533,271 332 9 5 882 2
HR9 356,539 231 18 6 627 2.1
SW1 1,472,981 1,391 28 1 2,595 2.1
WC2 1,502,436 1,676 6 1 2,683 2.1
HR6 299,180 198 8 3 544 2.2
N6 850,372 885 11 3 1,581 2.2
HR8 368,036 250 9 6 676 2.2
AL5 776,546 581 17 6 1,393 2.2
IG4 642,000 424 4 6 1,238 2.3
GU32 470,200 384 8 8 904 2.3
CB10 492,252 353 9 5 932 2.3
EX34 259,497 198 14 9 508 2.3
SW14 878,977 795 10 5 1,684 2.3
TQ7 415,599 297 17 6 785 2.3
SW10 1,253,623 1,266 15 2 2,352 2.3
W11 1,202,267 1,391 14 2 2,290 2.3
B93 518,751 376 13 8 978 2.3
NW11 886,494 716 10 2 1,687 2.3
NW8 1,304,518 1,145 15 1 2,453 2.3
SY4 321,599 210 19 6 621 2.3
RG9 713,431 521 5 1 1,360 2.3
RG4 506,359 413 28 7 978 2.3
OX15 443,251 311 13 6 877 2.4
GL54 511,841 321 18 6 1,033 2.4
SW13 1,159,762 889 12 5 2,295 2.4
BD23 303,066 223 24 10 609 2.4
N20 746,501 575 12 5 1,520 2.4
BH14 462,675 350 28 6 932 2.4
SW5 1,042,906 1,241 10 1 2,068 2.4
WD7 734,055 550 11 8 1,466 2.4
RG8 613,519 406 8 3 1,203 2.4
SN7 416,364 286 22 12 850 2.4
YO61 379,441 253 10 8 771 2.4
GU27 507,021 418 10 5 1,029 2.4
GU34 457,455 338 19 6 928 2.4
SO22 642,223 424 17 6 1,262 2.4
EN6 572,012 478 27 9 1,160 2.4
EN4 712,979 557 16 5 1,437 2.4
EC2 1,224,475 1,321 12 3 2,466 2.4
DL10 286,511 198 13 10 579 2.4
B73 370,447 257 15 7 741 2.4

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marta wonder

I got the best priced agent in my area with all the services I wanted. Using Rent Round I could see all the local agents in my area after just putting in my postcode.