Market Analysis Winter 2010/11

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Market Analysis Winter 2010/11

Lettings Instructions Jan09=100

Properties let in next to no time

100 120 140 160

High demand has put immense time pressure on tenants to make decisions quickly when looking for property and this is reflected in the time taken for properties to be let. Over the course of 2010 the average time properties have been on the market before being let has steadily decreased. In March properties were being let in three weeks on average. As tenant demand increased and property numbers fell the average time taken to let a property fell to just 1.7 weeks in September before slowing again as the seasonal peak passed. (Figure 29)

20 40 60 80

0

100 120 140 160 180

20 40 60 80

0

Figure 29 Average time to let in weeks

110% 160%

-40% 10% 60%

0 1 2 3 4 5

Jan- 10

Feb- 10

Mar- 10

Apr- 10

M

ay- 10

Jun- 10

Jul- 10

Aug- 10

Sep- 10

Oct- 10

Nov- 10

Average Time to Let in Weeks

Demand puts upward pressure on rents

Tenants Registered Jan09=100

Rising demand and falling levels of rental stock have forced average monthly rents up consistently over 2010. Over the course of the year average rental prices have risen 11% from &#xA3;1,895 pcm in January to &#xA3;2,096 pcm in November. With mortgage availability unlikely to ease over the next six months it is likely that continued supply and demand pressure will push average rents up further in early 2011. (Figure 30)

&#xA3;1,750 &#xA3;1,800 &#xA3;1,850 &#xA3;1,900 &#xA3;1,950 &#xA3;2,000 &#xA3;2,050 &#xA3;2,100 &#xA3;2,150

10.0% Number of Tenants Registered

Over the course of 2010 the average time properties have been on the market before being let as steadily decreased

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

Figure 30 Average UK monthly rental prices

&#xA3;1,750 &#xA3;1,800 &#xA3;1,850 &#xA3;1,900 &#xA3;1,950 &#xA3;2,000 &#xA3;2,050 &#xA3;2,100 &#xA3;2,150

Average time to Let in Weeks

14 Market Analysis Winter 2010/11 10.0%

Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10

January February

March April May June July

August September

October November

Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10

Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09 Nov-09 Dec-09 Jan-10 Feb-10 Mar-10 Apr-10 May-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10

Jan-09Feb-09Mar-09Apr-09May-09Jun-09 Jul-09Aug-09Sep-09Oct-09Nov-09Dec-09Jan-10Feb-10Mar-10Apr-10May-10 Jun-10Jul-10Aug-10Sep-10Oct-10Nov-10

January February

March April May June July

August September

October

Jan-10 Feb-10

Mar-10 Apr-10

May-10 Jun-10 Jul-10

Aug-10 Sep-10 Oct-10 Nov-10

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