By Steve Roulstone

Over the last three years the market has been very strong and during the spring there were signs that it was slowing down amongst fears about the Economy and a double dip recession. I commented at the time that the weather was having a huge effect as people stayed put and the last six weeks I believe has confirmed this as the pent up delay has been released, at least as our office is concerned.

Record Numbers.

At most times of the year we are aware of the number of properties being let and actually proceeding at any time, but it has been hard work keeping up with the speed of events that the seeming release of pressure has caused. It would also seem that schools and catchment areas have had a lot to do with the decisions Tenants have been making as they prepare for the next academic year, which has subsequently led to an increase of 33% in the number of houses we would normally expect to let.

Unusual.

This Performance whilst excellent does not yet signify a long term trend even though we are hoping that it does and there is no sign of things slowing just yet, but supply of properties then becomes the next problem as we seek to replace stocks. There is of course a natural trend to this as existing Tenants give notice and the market is thankfully still very active in both areas.

National Trends.

The national housing figures for last year have now been released and these figures will be the subject of one of my blogs next week when I have had the opportunity to digest and understand them, but those that have already commented Nationally are confirming the continued rise as Private Lettings in the UK overtake the Public (Council) Housing stock and approaches 20% of the overall housing market throughout the UK.

Landlord advice.

There has also been a marked increase in the number of Landlords we have discussed the market with as we continue to advice on a whole gambit of property scenarios from flats through family homes up to houses of Multiple Occupation. All of which points to the continued growth in confidence in both the aforementioned economy and the rental market.

Continued learning.

All of this means that we have to keep up to date with the changes in legislation and ensure we refresh ourselves on this intricate market of ours. We do this by openly sharing all manner of daily situations to share knowledge and double check what we advice, bearing in mind our legal responsibility lies first and foremost with our service to our Landlords at all times, whilst ensuring we give the correct duty of care to our Tenants.

Change of tack.

 I do not normally change tack halfway through a topic, but I must take time to mention the open meeting held with the staff of our local paper the Staffordshire Newsletter this week, who went to great lengths to get as many Agents together that could attend to a business development meeting. Firstly it is good to know that the long standing major paper for Stafford is taking their part in the property market so seriously as to not only arrange the get together, but also to provide so many staff so we were able to understand  all aspects of what they provide, but also because of the innovations they are bringing to the advertising market. It just goes to prove that ours is not the only market where people need to be looking ahead at all times!

One Thought on “Current Property News: Lettings Market strong but fluid.

  1. Well, in any business there are really time when the business hits so hard but then again there are also times it takes it slow.

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