Plymouth continues to buck the national trend when it comes to rental demand for properties in the city centre.
Figures from Zoopla’s quarterly UK Rental Market Report suggest there is a growing disparity between inner city and outer city residential rents.
Across the UK, people’s desire to live in built-up areas has eased as renters look further afield for larger properties.
However, letting agents in Plymouth continue to experience increasing demand for homes in the city centre and surrounding areas.
Are rents in Plymouth rising or falling?
According to the latest figures from Dataloft Inform, over the last 12 months (February 2020 to January 2021), the average rent achieved for properties let in Plymouth was £646 per month.
This reflects a +1% change on the previous 12-month period.
Meanwhile, Zoopla reports the average rent in the South West during that period was £845 pcm – an annual change of 3.9%.
That compared to £920 pcm for the whole of the UK (£772 ppm excluding London).
Richard Rabin, Director, says: “We are certainly seeing a high standard of property coming to the market which tenants are snapping up very quickly.
“We’ve also seen a rise in the number of people looking for quality homes to get out of substandard accommodation.
“As a result, rents have gone up across the board across Plymouth and the surrounding areas.”
What is the most important thing Plymouth renters look for?
More and more people are now working from home during the current national lockdown.
And the lack of need to commute means many now don’t need to live close to their place of work.
Richard Rabin says: “Certainly, we’re seeing those who are working from home want a different working environment.
“Another highly sought-after feature is outdoor space, if people’s price range can accommodate it.
“Obviously, once the weather improves – and particularly if lockdown remains in place – outside space becomes hugely desirable.”
How has lockdown affected the Plymouth rental market?
The Covid-19 pandemic has forced many of us to drastically change our day-to-day lives.
It also provided letting agents in Plymouth with undoubtedly the biggest test we have ever faced.
Huge changes have come into effect on a local and national level since the first lockdown was implemented in March.
The Government’s decision brought with it new guidelines and regulations that made doing what we love much, much more difficult.
Since the start of the Covid-19 pandemic, we have put a number of different processes in place.
This allows people to buy, sell, rent and let properties, as well as ensuring that you feel safe using us as your agent.
Though our offices remain closed to the general public for viewings and non-essential appointments, our dedicated team is on hand to answer any questions you may have regarding sales, lettings or new homes, or any other enquiries.
One thing that hasn’t changed is that the property market has remained open throughout lockdown.
Here at Lang Town & Country, our expert team will guide you through the process from start to finish.
Find out how we helped our clients during lockdown here.
How do I rent a property in Plymouth?
Some letting agents in Plymouth have struggled to adapt to the mounting Government guidelines.
Here at Lang Town & Country, we’re proud of how we have risen to the challenge.
In the last month alone, we have let 18 properties in Devon and Cornwall.
Most have been snapped up on the first day, which shows the appetite for quality accommodation in Plymouth.
And in 2020, our team let our entire stock of properties for the first time in the firm’s 23-year history. This is now becoming a regular occurrence.
If you’re looking to rent in Plymouth, simply get in touch with our team now on 01752 201010 or email@example.com.
We’ve also put together a handy guide to moving during lockdown which should help answer any questions you may have.
But if there is anything else you would like to know, please do get in touch.
You can find the Government’s latest advice about moving during lockdown here.
Is now a good time to become a landlord in Plymouth?
Since the first lockdown began in March, we have seen a leap in the number of people looking for quality homes across the city and surrounding areas.
What’s more, Plymouth has also just been named one of the UK’s top 20 ‘happiest places to live’ in Rightmove’s ‘Happy at Home Index’.
Becky Jude, key account manager, explains: “The main problem we have at the moment is that we don’t have enough stock for the tenants we want to try and help.
“We think it’s going to continue to be really busy and now is a really good time to become a landlord.
“We’re finding that rents are being increased because of the demand for rental properties in this area.
“If you are interested in becoming a landlord, or you would like any help or guidance with renting a property, just give us a call on 01752 201010.”