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Rightmove sees record high searches for rental homes with gardens
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Data from Rightmove has revealed that recent searches for rental homes with gardens have almost doubled compared to the first week of lockdown in the UK.
When comparing figures to earlier in the year, on average these searches are 16% higher than those of January and February. They’re also 26% up on this time last year.
Rightmove’s commercial director and housing market analyst, Miles Shipside, said: “Having a garden is often a rarity for many rental properties in larger cities, and so it may be that during lockdown people are rethinking their needs and location and are searching for some outdoor space and tranquillity.
“That allure may draw them further away from where they have habitually lived and travelled to work from, as can be seen by some of the coastal locations that have seen the largest search increases.
“Interestingly we’ve not yet seen this trend mirrored by those looking to buy a home, perhaps as renting is usually a much quicker process and so renters are thinking sooner about what changes they want for their next place.
“Agents report they’re helping their landlords line up new tenants ready to physically view properties when restrictions are lifted and we’re also seeing a lower but steady level of tenant referencing taking place.
“Those properties with a garden are likely to be able to fill any landlord voids more quickly post lockdown. Understandably most of the rental market has hit the pause button right now except where there are essential moves taking place, and so we haven’t seen an indication of price movements yet.
“If there is a spike in demand that exceeds supply when lockdown ends this may underpin rental prices.”
Read the full report here.
