As the summer reaches its peak so does the letting market. Due to fears of a double dip recession and worry about the general economic state house prices have been particularly susceptible to fluctuation. The result has been people off loading their house assets and flooding the tenant market.
The professional Land Lords as well as the investors have taken advantage of this and gradually this year rental rates have crept upwards often pricing some potential tenants out of the market.
As we now move in to the second part of the year the trend seems to be continuing with roughly ten or more tenants to each property. This rising trend has sometimes created a rent price war with some would be tenants offering up to £150 more than the rental price. My advice to all tenants is if you see something you like and that is affordable to you grab it before it goes.
If as predicted the market remains the same this will certainly be the summer of the Land Lords!!
Guy Barlow, Haart Stevenage Lettings