A Housing Shortage?

In writing this article I have seen Easter come and go and a spring in the step of tenant demand for property. As people’s lives change and they begin to implement their plans for the months ahead we have seen a real surge in the number of tenants and their haste to find their next home, in particular for two and three bedroom houses.

In the space of two weeks we added and very quickly let a number of houses. Good news obviously for us and our landlords but what staggered me was the volume of interest, let me give you some examples:

Greenfields Drive, a delightful three bed semi-detached house in Newport, on the first day we had nine viewings and four parties wished to apply – let at £725pcm.
Dorchester Drive, located in Muxton, this well-proportioned three bedroom house saw six people register to view immediately and three sets of people wanted to take it – let at £725pcm.
Minack Cottage, quirky would best describe this two bedroom house in Newport, but there is certainly demand for it from the level of interest, with four viewings and two interested parties – let at £575pcm.

There are others, but the fact remains that Newport and the surrounding areas are places where many people want to live and this shows no sign of changing. With all the new developments, some have commented that they wonder where all the people will come from to live in these houses. I know that most house sales, new or old, will be by people who will decide to live in them themselves but one fact I am sure of is that if investors buy in the area there is certainly a demand for rental property from good quality private tenants. The points above are evidence of that!

Let’s hope the bright rental market can help the sun to shine!

My team and I are always happy to help so feel free to make contact by calling in to see us, on the phone or through an email.

Craig Ingram
Lets Move Property Management