Due to the nature of lettings, the market tends to be much more agile and recover more quickly than its sales counterpart during times of instability and the market is once again showing its resilience as it surges following the lifting of lockdown restrictions.
Analysis of the largest property portals has shown that rental properties coming to the market has surged by up to 44% in some parts of the UK as landlords are keen to get their properties back onto the market. The research conducted by Howsy shows that the day after restrictions were eased the market jumped back into action, with London in particular seeing a huge increase in listing volumes.
Callum Brannan, founder and CEO of Howsy, said: “Many in the rental sector will be breathing a sigh of relief with such immediate green shoots of market activity returning to a number of cities following an ease in lockdown market restrictions.
“Of course, other pockets of the market will take longer to see this positive trend emerge as agents and landlords find their feet operationally.
“We’re certainly not out of the woods yet and the ongoing financial and health implications facing many tenants and landlords will continue to be an obstacle. However, now that we as an industry are able to facilitate them on a greater scale, we can at least start to rebuild momentum in the sector.
“Now, it’s vital that landlords receive the support and protection they need from us as an industry, to ensure confidence in their investment and to maintain a suitable level of rental stock to meet demand from tenants who rely on these homes in order to live.”