We hope this post finds you safe and well, and that lockdown 2.0 is treating you kindly. We thought we’d take the opportunity to have a look at what the local market is doing at the moment. The figures we’re using are our own.
October facts and figures for the Cambridgeshire property market.
Applicant enquiries were up by a massive 109%
This is the number of people looking to rent in the local area. This is a huge number, and incredibly positive if you’re thinking of letting a property.
50% of our viewings were carried out virtually
It’s new to everyone, but in order to carry on doing our absolute best for both landlords in getting their properties let and tenants, getting them moved in and settled – reducing face contact to keep everyone, both staff and customers, safe is essential.
People have really warmed to the idea of virtual property viewings, and our figures are showing that.
Number of days to find a tenant reduced by 45%
This stat is unsurprising given the rise in applicant enquiries mentioned above, but it’s another confidence boost to landlords who might be worried about re-letting their property if it’s been recently vacated. If you’re new to us, you can see the service we provide landlords, and what we do to get properties let here.
The best return we have found achieved a 5.2% gross
This was for a 2 bed property in PE27. We’re not just here to look after your investment, we’re always up-to-date with what’s going on in the market to be able to guide you when looking at your portfolio.
Rents have increased by 2% on average
And whilst our portfolio saw a 2% average rise, the best increase is 6% for larger 4 bed properties.
Maxine recently did a live chat with property expert Kate Faulkner. It was a great chat, and Kate made some interesting predictions as to what 2021 might have in store for the world of property.
If you missed it and you’d like to give it a watch, you can watch the replay in our Facebook group especially for local, Cambridgeshire-based landlords. We discuss the local market, answer questions, and we’ll be quick off the mark providing guidance on any legislation changes. Come and join us!