Rightmove Autumn Rental Market Update
With approximately 300,000 rental properties currently on Rightmove, it is always interesting to speak with Sam Mitchell, head of lettings on the portal’s latest quarterly report. Rental Values Outside of London Drop by 0.2% National asking rents outside of London dropped by 0.2% in quarter 3, a relatively rare occurrence. This largely comes down to supply and a continuation of the patterns highlighted in Rightmove’s quarter 2 report. Essentially, the rush of property investors ahead of the stamp duty surcharge in April 2016 – particularly in Greater London and the South East – led to a residual increase of available rental stock accompanied by a slight slowdown in demand. Anecdotal evidence suggests that landlords are still buying, albeit at a slower pace[1]. In recent years, the South East has seen a noticeable increase in rental property supply as investors seek... [Read More]