East Hampshire experiences uptake in lettings market
The lettings market in East Hampshire is experiencing a significant spike in activity, according to property portal Zoopla.
East Hampshire saw the highest percentage increase (46%) in lettings instructions of all UK markets over the last 12 months.
This meets the uptake in demand with 73% more enquiries from tenants to agents in this part of the country over the same period.
Scott Richardson, from SCR Sales and Lettings, an estate agency business which has a stronghold in East Hampshire, said: “The East Hampshire lettings market is enjoying a real boom.
“There is a breadth of stock in this part of the county, catering to a host of tenant needs, ranging from new build homes in commutable towns such as Liphook, Farnham and Petersfield, which are popular amongst young professionals, to unique detached properties, which are being snapped up by growing families.
“Complementing its commutability, East Hampshire’s appeal is underpinned by its calibre of schools – both independent and state. For families in search of more space, fresh air, and access to the best education for their children, this area is a honeypot.
“Due to sales market uncertainty, many vendors are electing to rent rather buy, letting out their property rather than selling. We’re also witnessing a step-change amongst family renters – many of whom are now selling up and moving to a long-term rental property.
“Meanwhile, some renters are testing out the local area before committing to it, while others are renting tactically, ready to pounce when their dream property comes up for sale.
“Either way, it’s injected buoyancy to the rental market, and has opened up a plethora of opportunities for landlords and tenants alike.”
The demand for rental properties is also rising in Chichester, with Zoopla delivering 23% more rental enquiries to agents here, whilst rental stock also increased by 41%.
Andy Marshall, chief commercial officer at Zoopla, added: “East Hampshire offers an attractive combination of attributes to tenants at all stages of their property cycle.
“Proximity to major towns and cities, from London to Southampton, Portsmouth and Basingstoke, and their respective employment hubs, is always going to draw in the rental community.
“As much as it’s our role to support agents through the inevitable challenges of the property landscape, it’s as critical to ensure that we enable them to capitalise on peak periods of activity – which the East Hampshire lettings market is enjoying at present.
“We continually strive to add value, and the 73% increase in enquiries and 46% uplift in new instructions over the past year harbours a tangible and measurable impact for our agency partners.”