“The enforced closure of the market resulted in a build-up of stock, leading to an oversupply which was especially severe in postcodes that had high concentrations of short term rentals. At the same time pent-up demand was also building from tenants who were unable to move and this was released once lockdown restrictions were eased. Once the market reopened we saw a significant surge in demand for viewings with properties letting fast. That said, the supply demand imbalance has caused downward pressure on rents across the city as landlords needed to adjust expectations to generate an income and reduce further void periods.”
I am a Tenant Landlord
