Rental market expected to rebound as applications rise 45%
According to new data, more tenants are beginning to move properties within the UK rental market once again.
The Goodlord’s Lettings Activity Tracker collated data between 12th April and 7th May. The research showed that new tenancy applications “rose by 45%, and completed tenancies by 22%”.
To draw attention to just how substantial this increase is, between 17th March and 14th April the “number of new tenancy applications plummeted by 72%” due to coronavirus, a decrease of 75% in market activity over the same period just 12 months previous.
Tom Mundy, Chief Operating Officer of Goodlord, commented that these figures offer “some glimmers of hope” and that “the numbers are showing early signs of levelling out”.
He said: “The steep decline we saw in new and completed tenancy applications was unprecedented in modern history.