Autumn has arrived and has brought with it a flurry of activity in the rental market. Demand for rental properties has been high across the UK throughout the year, and September was no exception. The average rent in the UK is now at £1,276, up 10.1% on the same time last year and 1.2% from last month’s figures.
Let’s have a brief look at what’s been happening over the last month in the lettings market in Cornwall.
There are currently 377 properties available to rent in our area, which is a return to normal levels. Last month, there were 124; in July, there were 293; in May, there were 311; in April, there were 275; in March, there were 308; and in February, there were 365.
There are a good number of properties coming onto the rental market each month. In April, there were 105; in May, there were 106; in June, there were 109; in July, there were 129; in August, there were 76; and in September, there were 166. This is great news for tenants, as it means that they have plenty of choice.
The average property rent in Cornwall is currently £1,239pcm which is another month-on-month increase from £1,174pcm last month, £1,151pcm in July, and a 17.1% increase from £1,058pcm in March.
Let’s take a closer look at the local lettings market in Penryn and the local area.
There are currently 107 properties available to rent in the area. In August, there were 25; in July, there were 98; in June, there were 109; in May, there were 113 properties available to rent in the area; and in April, there were 109.
There is a steady flow of properties becoming available. In April, 57 properties became available; in May, 66 properties became available; in June, 60 properties became available; in July, 55 properties became available; in August, 18; and in September, 58 properties became available.
In September, 36 lets were agreed in Penryn and the local area; in August, there were 11; in July, there were 32; in June, there were 45; in May, 39; and in April, 45 were agreed. There is always a lot of demand for rental properties in Penryn and the local area, and autumn is always a busy time, so if you are considering letting a property in Penryn or the surrounding area, now is the great time to do it.
In April, the average daily views on Rightmove were 112.5; in May, they remained high at 105.8; in June, they settled down at 85.9; and in July, they rose to 114.3. In August, they soared to a six month high of 117.8. This is likely to be due to the presence of lots of tourists during the months of July and August who were enjoying browsing local properties on Rightmove. In September, the number of average daily views on Rightmove returned to a more normal level of 91.7. This is great news if you are considering letting your property, as it demonstrates that the local lettings market is very active.
Average daily views per property on Rightmove for properties listed by Lang Llewellyn & Co were 108.2 in September, which was 17.9% higher than average. We are pleased to consistently deliver above-average results for our clients. It shows the difference your letting agent can make when it comes to attracting the right tenant to your property. If you’re looking for further information about the Cornish property market, please feel free to contact us. If you’re thinking of letting or renting property in this area, please don’t hesitate to get in touch. You can call 01326 331812 or email hello@llcoproperty.com.
