2009: A refreshingly positive outlook for the lettings market
Mon 05 Jan 2009
Despite the latter half of 2008 being a very challenging market for landlords, December really brought some long-awaited 'glad tidings' in the form of a spectacularly busy end to the year. Whilst the prices being achieved remained comparatively low, the actual volume of properties let in December increased by an enormous 60% on the same period in November.
We saw a real flurry of activity in the last three weeks of December with a substantial increase in prospective tenant registrations and in general, a far more 'decisive' sentiment amongst those looking. It seems that the price readjustment we have seen over the past 4-6 months in the lettings market has now lead to a healthy number of transactions as landlords' and tenants' expectations become more closely aligned.The exceptionally busy end to the year bodes well for a strong start to 2009 - it would seem that for landlords, the worst may now be over and indeed the gradual re-strengthening of rents over the course of next year is now looking far more realistic.