Rental Market Update – Good News For Landlords!

The rental market in Yorkshire has taken a sharp rise in the first quarter of 2021.The rental market growth nationally went to a 10 year high in March with the fastest-rising rents in the North East of England. These are over 5% up on past years.

In the last 3 months, we have put several desirable properties on the market ranging from £450pcm to £2,250pcm in the North Yorkshire area. In two instances, we had over 25 requests to view in the first 3 hours of launching these properties on Rightmove and OnTheMarket. This shows that it isn’t just the rents which are rising in the area, it’s also the demand for properties, which is great news for landlords. One of the reasons behind the demand is that the North East is still one of the most affordable regions in the country to rent and it’s where a lot of people are looking to buy. Many are choosing to rent for a couple of years before deciding where to buy in the area. This is why the pool of applicants has grown since the start of the pandemic and this can only continue as more people are looking for a better work/life balance.

If you would like a rental valuation or just to have a conversation about your options, please don’t hesitate to get in touch with Harry Appleton-Metcalfe at the Boroughbridge office on 01423 322832 or email harrymetcalfe@listerhaigh.co.uk.