17 Feb Demand for Rental properties
January is usually a bit of a depressing month, but this year it’s been that little bit worse on account of the national lockdown due to the Covid-19 pandemic. So, here we are mid-February and hoping for some more positive news.
Well, at the moment the good news is that the property market is still open and, as one of the leading estate agents in Slough and the surrounding areas, we are busier than ever moving people in and out of homes. Whether you are buying, selling or renting the markets seem buoyant so, if you are looking to move in the near future make sure you get in touch with us on 01753 683000 or email us.
Vibrant Rental Market
As the Covid-19 pandemic continues more and more people are looking for more space and moving out of inner-city areas in favour of the commuter belt. Lucky for us (and our landlords) our area is a short distance from the city and with great travel connections Slough, Colnbrook and the surrounding villages make the perfect place to relocate.
The sales market has seen an exodus of people escaping the city in favour of locations with good access to green spaces and more square footage for their money; and this has been reflected in the rental market.
The impact of the coronavirus has been amplified in London where rents were at record highs, now that demand has eased for city rental properties, we are seeing a softening of these prices in the city while commuter town rents are creeping up; so, if you are looking to move you need to make it quick in order to snap up the best deals.
The future
We are living in a somewhat confusing and uncertain time. The outlook for the rental market in the coming months will hinge on how quickly the country can get back to some sort of “normality”; this means getting the population vaccinated and returning to work.
At the time of writing (10/02/2021) more than 12 million people have been vaccinated.
However, even with the vaccinations taking place, people are likely to be changing their working habits and employers will be adopting a more dual-location way of working. This means that the demand for more space is unlikely to decrease anytime soon as more people will be working from home more often.
The British economy is going to take some time to recover from this challenging period; things like the general uncertainty, rising unemployment and limited mortgage availability for buyers with smaller deposits is likely to keep the demand for rental properties high.
London is our closest city and was quickly impacted by the changing work requirements, commuting and tourism patterns; as we are perfectly positioned in the commuter belt many of those city workers are escaping at the end of their city tenancies in order to find themselves more space.
Get in Touch
As the leading independent letting agents in Colnbrook and the surrounding areas we are location experts and are always happy to help, contact us on 01753 683000 or email us. You can also follow us on Facebook, LinkedIn and Instagram.