The buy to let market is looking buoyant for lettingaproperty.com as it has reported a whopping 938 percent growth in activity.
The independently owned rental website has seen rental demand rocket since January this year with the unique number of visitors to the website now in the region of 22,000 per month, generating over 100,000 property page views per month.
Jonathan Daines, Managing Director, attributes this growth to two factors. The first is tenant demand in the private rented sector (PRS) and the second is a need for choice when searching for property.
He explained: “We have recognised that demand for rental property in the PRS has increased month on month as more tenants are finding it near on impossible to move out of private rented accommodation and onto the property ladder.
“Despite interest rates being at an all time low, mortgages are still hard to come by and considering that the majority of tenants do not have deposits of up to 20 to 25 percent, they simply cannot afford to buy.
“We are finding that the majority of our enquiries are from young people either leaving their parents’ homes to go to university or to relocate to another part of the country in search of employment.
“Property stock from high street letting agents has decreased rapidly over the last few months and with a lack of new landlords coming to the market, tenants are widening their search online and visiting niche sites like lettingaproperty.com.”
lettingaproperty.com advertises property from private landlords and letting agents and to date has just over 100,000 rental properties listed in the UK .
The company claims it is committed to continue its growth in visitor numbers and estimates that by this time next year it will reach one million property page views per month.
• Due to strong rental demand in Horsham and surrounding areas letting agent Leaders is inviting landlords to challenge them to let their property in five days or less.
Senior Lettings Consultant Alex Heather explained: “We are currently seeing very high demand in Horsham for rented properties of all types, from studios and one-bedroom flats to large family homes.
“Many of the landlords who have recently instructed us to let their properties have been pleasantly surprised how quickly we have found them tenants, at an increased rental value, in some cases within 24 hours!
“We are very confident that we can let any good quality property in the area in less than five days, so why not put us to the test?”
