Rental property market update - News

Rental property market update

Rental property market update

Residential GFW 17th April 2023

The media is full of contradicting views on the property market and has been since Autumn 2022 but on the ground, the rental market is still going strong, and rents are still increasing throughout the region, with the average rent for the North East being £789pcm, which is 1.3% more than last quarter.

Lorna White, Senior Associate at George F. White comments "The lettings market is yet to find balance with as many as ten people chasing every available property and as such monthly rental figures remain strong but there are signs that the market is ever so slowly nudging towards that balance".


The number of rental properties is down 38% compared to pre-pandemic (2019), and more recently this is reflected in a 39% increase in the number of homes available for sale since February 2022 and this is joined by the fact tenant demand remains high with the number of people enquiring about properties up 53% comparatively.

Whether you are looking for advice to manage your rental property or a tenant looking for a new home contact our team on 0333 920 2220.



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