Total British rental demand is now up by 39% in comparison to the same time in 2019
Research from Rightmove has shown outside London rent demand is up 8.6% year-on-year, where London has seen a 2.7% increase. This highlights that offices have been reopened and people are returning from the country to city centres.
This is positive for the rental market, since the outbreak of Covid-19 and lockdown having a big impact on the industry. Where 56% of UK landlords reported a loss in rental income in the pandemic, shown by NRLA data.
So, this is great news for landlords, agents and tenants. It shows we are going back to ‘normal’ and things are improving. Despite some companies planning to remain working from home, or asking their employees to work 2 days a week from the city office, people are still keen to move back to urban areas and set up home.
