As a Northampton Estate & Lettings agent with a keen eye on the shifting dynamics of the lettings market, it is imperative to highlight the current landscape for both landlords and tenants. Across the UK, the figures are telling: available rental homes on the market have seen a notable decrease from March 2019 to March 2024, with all 12 regions reflecting this trend.
The North East has been hit the hardest, with a reduction of 58.3% in rental properties coming onto the market. As one expects, the areas close the Capital (the South East and East Anglia) have been hit hard, yet London has only seen a slight drop these numbers at 12.1%.
Irrespective of what is happening in each region, many tenants are opting to stay put for longer, creating a more stable tenancy environment. Moreover, the established rental properties have not experienced the rent hikes akin to the fresher properties entering the market. This has resulted in a two-tiered rental system, impacting both the availability and affordability of homes.
For tenants, this means navigating a market where choices may be more limited and rent for new leases potentially higher. For landlords, particularly in Northampton, the scenario is twofold: existing landlords enjoy sustained occupancy, while new landlords entering the market are capitalising on higher rental yields.
In this climate, the role of an agency like ours becomes crucial. We provide the expertise to navigate this nuanced market—whether for a seasoned Northampton landlord or those considering their first buy-to-let investment in our historic town. With our finger on the pulse of local and national trends, we offer unparalleled advice and service to ensure your letting endeavours are both profitable and attuned to the current market realities.
For a tailored insight into how these trends impact you and to discover the advantages of partnering with a local Northampton lettings expert, landlords are warmly invited to reach out. Together, we can explore opportunities within this evolving landscape.
