The Nottingham rental market shows no sign of slackening off despite concerns surrounding Covid 19. After an understandably quiet spring, the summer letting season exploded in July and demand stays at record levels as we head into the usually quieter autumn months.
Nationally, figures from Rightmove paint a picture of a buoyant rental market with only the London landlords struggling as people choose to work from home away from the capital city.
Rents and sale prices across Nottingham have continued to grow, with many two bedroom furnished properties in the city starting to command prices approaching £1000 per month. Welcome news for landlords with ever spiralling costs…
Jonathan Detheridge from Granger & Oaks commented “this summer has been busier than ever, despite a slow start. As is becoming the norm, it is fast looking like agents are going to be fully let again this year with students going through clearing, and medics changing hospitals already struggling to find property to move in-to despite the growth in new purpose built accommodation”
In Estate Agency, stamp duty measures brought in to stimulate the market, and historically low interest rates, appear to be having an impact with sale prices rising across the city and property being snapped up in days rather than weeks.
The rise of property prices in Nottingham is seeing landlords start to invest in the city again, but the fast moving nature of the market, and extra regulation, is making investing a tougher decision than it used to be. If you are looking at investing in property in Nottingham, Granger & Oaks frequently help landlords like you, and we’re happy to assist with the identification of suitable investment opportunities. Call Jonathan today on 0115 9629770 if you are thinking about expanding your portfolio….