The race to rent
With peak rental season underway, homes to rent continue to be in high demand and are renting quickly. The median time on the market from listing to finding a renter is just 12 days meaning that over half of all homes are being rented in less than 2 weeks.
There’s a similar picture in all regions across the country but there are some properties renting even quicker than others. 1-bed flats are currently flying off the books most quickly in an average of 10 days, with 43% let in under a week.
This is likely to get even quicker over the next few weeks. In July and August last year, properties took just 10 days, on average, to rent. Source: Dataloft (https://inform.dataloft.co.uk/)Rental Market Analytics by PriceHubble, Information Works. July 2024.
What do Jukes Estate Agents Harlow think?
Co Owner Geoff Flewers says:
“This is fascinating stuff yet again from Dataloft.”
“It is always interesting what the national average are for both rental properties & residential sales. The rental market is so very strong at the moment. I’m inclined to say, even too strong sometimes. We had a 3/4 bedroom property for rent that we put on the market last week. We thought it was around £1,850 per month based on what other similar property was going for in the local area. The phones rang off the hook! After just 6 hours we had to take it off the market because we had so many viewings booked in that it was inconceivable that everyone would either say no or those that said yes would not pass affordability and/or credit checks.”
“Viewings were carried out and virtually everyone wanted it. When this happens, there is onyl every going to be one outcome and that’s a bidding war.”
“I am saddened to say that it has now been let to someone for £2,300 per month!”
“It is bordering on ridiculousness (not even sure that’s a word).”
“This new government needs to do something fast. We need many more social houses to bring some sanity back to the rental market.”
What’s the Harlow rental market like?
Firstly, Harlow is no different from anywhere else in the UK.
Rental property goes extremely fast and for top dollar.
Those figures above in the graphic are actually NOT reflective of the Harlow market.
Harlow rental properties (if priced correctly) get let within 4/5 days!
Thinking of becoming a Landlord or changing property management companies?
Call us on 01279 295524 or visit our website (https://jukesestates.co.uk/)
Firstly, we have incentives & offers for new clients.
We do
Tenant find
Rent collection only
Full property management.
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