Over 60% of properties placed on the rental market in the UK are being rented out within a week of being listed, according to a recent poll of subscribers conducted by Dataloft. The poll also revealed that one in six properties is being let out within three days, which highlights the increasing demand for rental properties in the UK and this is something we are very much seeing in Crawley.
Moreover, the poll indicated that less than 3% of properties are currently on the market for more than two weeks. This indicates that the rental market is highly competitive, with properties being rented out almost immediately after being listed.
The survey also highlighted the preferred ways renters wish to be contacted by agents if there is a new property on the market that meets their requirements. The poll revealed that email is the preferred mode of contact for 65% of renters, followed by phone at 22%, and WhatsApp at 12%. These preferences reflect the increasing use of digital communication in the real estate industry.
The anticipated rental price growth is also a significant trend highlighted by the poll, as it is expected to outpace sales price growth in the UK market over the next five years. This indicates that the rental market is expected to remain strong in the coming years.
The data suggests that the current demand for rental properties in the UK is high, and the market is competitive. As such, renters looking for properties need to be vigilant and quick to act when suitable properties become available. Likewise, landlords must ensure that they are keeping up with the latest trends and using digital communication channels to reach potential renters quickly.
In conclusion, the Dataloft poll provides valuable insights into the current state of the UK rental market, which puts Taylor Robinson in a better position to assist you with the letting of your investment property. With the demand for rental properties remaining high, if you have a property you are looking to let out, please call Ben on 01293 552 388.