78 Tenant Enquiries For Just One Flat!
Saturday 12th June 2021
78 tenant enquiries for a one bedroom flat in Kirkdale, Liverpool
The photo above is not a stock photo, but is a screenshot of our system which shows 78 enquiries for a one bedroom flat in Kirkdale, Liverpool. This is an incredible level of demand and testament to the way in which we market properties for rent and the quality of our offering. This is a flat developed by us, in a block we manage.
What does this incredible level of demand tell us?
There is a shortage of quality rental stock, not just in Liverpool, but throughout the UK. This is in part due to construction not keeping pace with population growth, but also government policy in the private rental sector over recent years. There is no indication this will change in the short to medium term and rental prices will continue to rise above the rate of inflation.
It's estimated that inflation will increase as we exit the pandemic with a 'wall of money' ready to hit the UK economy. In times of inflation, many investors choose to hold their cash in property and not be faced with the erosion of its value in a bank. This will also lead to a rise in capital values. It's a perfect storm of rising rents and rising property prices.
Rents in UK (excl. Greater London) are up 6.4% year on year, whilst CPI inflation is presently 1.6%, so in real terms an increase of 4.8%, which given the return on cash in a bank is excellent.
You will note that from the number of enquiries for just one property, Tuna Fish tenant demand significantly outstrips our ability to satisfy it. We literally have hundreds of tenants waiting for a property to rent.
If you have an empty property or one becoming vacant soon, please contact us as we can have it let, at a market leading rent, very quickly with a rent guarantee if you wish.