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.
“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|