Despite media headlines to the contrary, demand for rental property continues to thrive while the property sales market struggles says letting specialist George F White.
First time buyers, plus those unable or unwilling to secure a mortgage and people in the throes of relocation, as well as individuals requiring temporary accommodation are driving up demand for rented property, particularly in rural settings.
Company spokesperson Claire Shiels said: “We are finding that location, location, location is still very much a priority, even with rented accommodation.
“Tastes differ, and some tenants will be searching for a unique property with history and period features, whilst others will only consider new builds, both of which are available in countryside and coastal locations.
“Some individuals hesitate to commit to an AST (Assured Shorthold Tenancy), believing rural rents to be high as a result of a property’s superb location.
However, we do have houses available from around £350 per month, a small price to pay for those looking to live out their rural dream.
“In particular, quintessentially rural or secluded properties are being snapped up within days of coming onto the market, a classic example being The Coach House at Burradon, a conversion situated right next to the Northumberland National Park.
“With oil fired central heating, dishwasher and inglenook fireplace with wood burning stove, this property easily mixes modern living with period features. In a matter of days, The Coach House had been snapped up, typical of the turnaround we are currently seeing for such properties.”
Shiels adds that a similar example which has come onto the market in the last few days is a Penthouse Suite in an old converted mill, overlooking Budle Bay, Holy Island and Lindisfarne Castle at Warren Mill, near Bamburgh.
It is a well equipped three bedroom apartment with security entry phone and private lift for £650 per month.
