Market activity summary:
- Viewings 43 per cent higher compared with February 2010
- New instructions up 19 per cent compared with February 2010
- Re-instructions up 34 per cent compared with February 2010
- Market appraisals up by five per cent compared with January 2011 and 38 per cent compared with January 2010
- New applicant registrations 17 per cent higher compared with February 2010
30 March 2011 Levels of activity in the lettings market are rising sharply, according to new figures from Hamptons International, one of the UK’s premier residential agencies.
The monthly market update from Hamptons International, which reports on the previous month’s business figures, shows that the lettings market is thriving, with an increase in viewings and registrations. February has been an exceptionally busy month for lettings activity with the number of landlords putting their property onto the rental market up by 19 per cent compared with February 2010.
At a time when demand for private rental sector property continues to outstrip supply and the rental market remains buoyant with properties letting very quickly at increased rents, the latest figures from Hamptons International show that demand remains very strong with viewings 43 per cent higher compared with February 2010 and a 17 per cent increase in the number of new applicants registered compared with the same period last year.
A further 34 per cent re-marketed their property with Hamptons International compared with the same period in 2010 and landlords requesting a valuation for their property increased by five per cent compared with January 2011 and 28 per cent compared with January 2010.
Lesley Cairns, Head of Lettings at Hamptons International commented: “The February market soared with notable increases in both market appraisals and viewings. Whilst lettings market activity is strong, demand continues to outweigh supply so it is important now to try and increase stock levels to enable us to meet the requirements of the demand.
The number of corporate rentals and activity has also increased– providing a strong indication that the economy is beginning to recover from the recession, a very positive sign for the remainder of 2011.”
For media enquiries please contact:
Ashleigh Gatward
PR Executive
Hamptons International
Phone: 0207 758 8468
Email: gatwarda@hamptons-int.com