At Taylor & Co, we like to keep an eye on the current market and look ahead so that we are ready for what comes next. With the news of a new national lockdown, we’ve taken some time to look at how the last one affected the rental market. We've used this information to make our predictions as to what will happen this time.
Research has shown that after the first lockdown in March, there was an increase in new tenancies. It has been suggested that the time spent in lockdown may have caused tenants to consider their current living arrangements. Perhaps the time spent inside led them to wanting to move to a bigger property or financial changes have resulted in them looking to downsize.
We believe that things may be a little different this time because the housing market hasn’t stalled, unlike in March. As a result of this, any new tenancies or house moves which are already agreed are able to go ahead. This is good news for landlords who have already found a tenant.
Our prediction is that viewing requests will surge during lockdown as tenants have more time at home to browse the properties on offer and new tenancies will soar once the lockdown has been eased as people are keen to move coming into the Christmas period.
Our advice to any landlords who currently have empty rental properties is to ensure they are ready and waiting for the market in early December. We’re expecting quite the rush!
If you would like any advice on finding your next property or getting your property ready for rental, please feel free to get in touch with our friendly team on 01747 416516 or email firstname.lastname@example.org