No Christmas slowdown for lettings market

No Christmas slowdown for lettings market



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Landlords and letting agents are experiencing high levels of activity in the run up to Christmas, with 65% of consumers currently looking for new lettings accommodation still hoping to move in before the end of the year, according to a poll conducted by lettingsearch.co.uk. 

Sustained high demand from current and potential tenants as Christmas approaches is keeping landlords and letting agents busy, greatly reducing the number of un-let properties and void periods over the festive season, in contrast to the situation in 2008.

 

While December and January have traditionally been quiet, with fewer people moving into new lettings accommodation, December 2009 is busy with tenants looking to move before the New Year, when rents are widely expected to increase further. Potential buyers continue to be cautious about committing to a purchase as house prices look set to dip further, creating additional demand for rental homes.

 

Phil Calderbank, Director at lettingsearch.co.uk, comments: “All signs are pointing to high levels of market activity right up until Christmas itself, which is great source of seasonal cheer for lettings professionals, allowing them to cut down on void periods and in many cases achieve the best rents possible for their properties.

 

“Current tenants are looking to get a good deal on the rent while they can, as supply continues to shrink and rents look likely to continue on their upward path in the New Year. Buyers are also playing a waiting game, choosing the lettings market instead of sales, until mortgage lending improves.

 

“Such strong levels of demand at this stage in the year suggest that the lettings market is set for a year of sustained recovery and consolidation in 2010.”

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