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.

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 10 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
1	L7	104,402	136	6	2	859	9.9
2	BD1	58,673	125	4	2	469	9.6
3	SR1	65,478	85			525	9.6
4	TS1	54,978	68	6	2	437	9.5
5	NE6	122,850	156	26	4	783	7.6
6	CF37	124,608	120	22	7	789	7.6
7	L1	114,724	236	6	1	721	7.5
8	S1	113,139	243	5	2	696	7.4
9	L5	97,744	117	6	5	599	7.4
10	M14	176,995	183	14	2	1,084	7.3
11	DN31	71,105	66	6	5	432	7.3
12	LS4	177,341	188	6	4	1,075	7.3
13	M11	142,719	152	7	8	850	7.1
14	L2	132,071	275	2	1	757	6.9
15	S3	109,301	211	8	3	627	6.9
16	PR1	118,515	130	20	2	682	6.9
17	NG1	154,381	227	7	2	874	6.8
18	TS3	80,958	83	11	8	452	6.7
19	L15	140,008	135	19	7	786	6.7
20	IP27	210,490	198	20	10	1,149	6.6
21	LS6	200,063	218	19	2	1,065	6.4
22	S2	115,690	155	22	8	617	6.4
23	LE1	123,656	181	4	1	657	6.4
24	CH41	91,885	94	7	5	482	6.3
25	LL57	155,262	161	10	4	815	6.3
26	NE1	153,582	220	5	1	811	6.3
27	HU9	92,755	102	24	10	487	6.3
28	L8	123,499	169	10	4	647	6.3
29	NR5	224,854	222	17	7	1,168	6.2
30	SR8	85,274	68	27	9	439	6.2
31	M9	137,936	132	21	16	697	6.1
32	DL4	73,637	67	5	4	376	6.1
33	L6	117,479	80	8	3	593	6.1
34	L20	91,793	94	17	8	467	6.1
35	BH9	306,874	290	13	4	1,566	6.1
36	L3	143,963	210	10	1	729	6.1
37	SR5	93,222	111	16	11	468	6
38	LA14	107,835	119	35	14	536	6
39	CV1	167,302	186	6	1	818	5.9
40	M12	154,874	161	5	7	768	5.9
41	LS2	153,814	222	4	2	737	5.8
42	FY1	95,526	88	20	5	464	5.8
43	SO17	216,759	258	13	4	1,045	5.8
44	M6	192,739	165	17	6	913	5.7
45	LS11	120,961	121	14	8	576	5.7
46	IG11	289,259	389	17	4	1,378	5.7
47	L4	102,262	77	19	7	485	5.7
48	L13	111,564	104	19	11	529	5.7
49	LS9	137,434	133	28	11	646	5.6
50	CF10	176,655	224	7	2	831	5.6