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100000 150000 200000 250000 300000


50000 0


Lettings Properties Available Annual change 2010 vs 2009


10.0% 10.0%


uctions to Sell 100


Figure 25 Lettings properties available Jan 2009 = 100


-60.0% -50.0% -40.0% -30.0% -20.0% -10.0% 0.0%


100 120 140 160


erage sale price (£) 0


20 40 60 80


Number of Lettings Properties Available


100 120 140 160 180


Figure 27 Letting instructions Jan 2009 = 100


100 120 140 160


erties Available 9=100


20 40 60 80


0


100 120 140 160


20 40 60 80


0


Lettings Instructions Jan09=100


Lettings Instructions Jan09=100


20 40 60 80


0


-60.0% -50.0% -40.0% -30.0% -20.0% -10.0% 0.0%


Lettings Properties Available Jan09=100


100 120 140 160


20 40 60 80


0


Lettings Properties Available Annual change 2010 vs 2009


-60.0% -50.0% -40.0% -30.0%


100


20 40 60 80


0


-40% 10% 60%


Jan- 10


Feb- 10


Mar- 10


Apr- 10


M


ay- 10


Jun- 10


Jul- 10


Lettings Instructions Jan09=100


Market Analysis Winter 2010/11 UK Rentals


110% 160%


-40% 10% 60%


110% 160%


Tenants Registered Jan09=100


Limited funding for mortgage lenders has had a strangle hold on the property market since the start of the economic downturn. This has forced lenders to demand high deposits from would-be buyers causing a great number of people to turn away from the sales market and rely on the private rental sector.


-40% 10% 60%


0 1 2 3 4 5


Jan- 10


Jan- 10


£1,750 £1,800 £1,850 £1,900 £1,950 £2,000 £2,050 £2,100 £2,150


Feb- 10


Feb- 10


Figure 26 Letting properties available Annual change (2010 v 2009)


Mar- 10


Mar- 10


Apr- 10


Apr- 10


M


ay- 10


10.0% Number of Tenants Registered Average Time to Let in Weeks


0 1 2 3 4 5


Figure 28 Tenants registered Jan 2009 = 100


ngs Properties


100 120 140 160 180


20 40 60 80


0


100 120 140 160 180


20 40 60 80


0


Tenants Registered Jan09=100


Tenants Registered Jan09=100


Average time to Let in Weeks


The rental market traditionally has its seasonal peak in August as university graduates hit the market and current tenants come to the end of their 12 month contracts. In normal circumstances many of the tenants coming to the end of their tenancy would move out of the rental sector as they buy their first homes, but lack of mortgage availability has disrupted the usual churn. The result is that more and more professional couples and flat sharers are coming back into the market at the same time as the new entrants. This soaring demand has put massive strain on the availability of rental property.


£1,750 £1,800 £1,850 £1,900 £1,950 £2,000 £2,050 £2,100 £2,150


£1,750 £1,800 £1,850 £1,900 £1,950 £2,000 £2,050 £2,100 £2,150


Stock in short supply


-60.0% -50.0% -40.0% -30.0% -20.0% -10.0% 0.0%


ay- 10


Jun- 10


Jun- 10


M


Jul- 10


Jul- 10


Aug- 10


Sep- 10


Oct- 10


Number of Tenants Registered


specifically at the three months to November 2010 compared to the same period in 2009, the average number of rental properties available on the market fell by 45%. (Figure 25, 26 & 27)


Average Time to Let in Weeks


Aug- 10


Aug- 10


Sep- 10


Sep- 10


Oc 10


Oc 1


Average time to Let in Weeks


End of summer tenant rush starts earlier and lasts longer


10.0% 10.0%


Number of Tenants Registered Number of Tenants Registered


Average Time to Let in Weeks Average Time to Let in Weeks


0 1 2 3 4 5


0 1 2 3 4 5


The number of properties available to rent in the UK lettings market fell 40% between July and October as the seasonal rush of tenants hit the market to try and secure accommodation. The combination of massive tenant demand and a 20% fall in the number of new lettings instructions (Jan to Nov 2009 vs Jan to Nov 2010) left the market with significantly fewer rental properties. Looking


-60.0% -50.0% -40.0% -30.0% -20.0% -10.0% 0.0%


-60.0% -50.0% -40.0% -30.0% -20.0% -10.0% 0.0%


In 2009 the rush of tenants registering for rental property peaked in August and almost immediately began to fall. This seasonal peak was repeated in 2010 but because of sentiment over the sales market and fear from tenants over the shortage of property available the peak began a month earlier than 2009 and lasted much longer. There was a steady influx of tenant registrations between July and October before finally falling in November. Overall there were 8% more tenant registrations between July and October 2010 than the same period in 2009. (Figure 28)


Market Analysis Winter 2010/11


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January February


March April May June July


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October Novem


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