The lettings market continues to evolve, with two key trends becoming increasingly clear: rents are steadily rising, while tenant enquiry levels are gradually easing from the highs seen in recent years.
Rental values have continued their upward trajectory as demand has remained relatively strong against a backdrop of limited available housing stock. Many landlords have adjusted prices in line with the market, resulting in higher average rents across many areas. While the pace of growth may vary from location to location, the overall direction remains consistent—rents are still trending upwards.
At the same time, letting agents are noticing a gradual decline in the volume of enquiries per property. This doesn’t necessarily indicate a weak market, but rather a shift towards more balanced conditions compared to the intense competition seen previously. Tenants are becoming more selective, and affordability pressures are starting to play a larger role in decision-making.
Pricing strategy has therefore become increasingly important. Properties that are marketed below the local market average typically attract stronger interest and tend to spend less time on the market. Competitive pricing can generate early momentum, often leading to quicker lets and reducing the risk of prolonged void periods.
In contrast, properties that enter the market at a higher price point often take longer to secure a tenant. With enquiry levels softening slightly, tenants now have more opportunity to compare options, meaning that overpricing can lead to longer marketing periods and potential price adjustments later on.
For landlords, this reinforces the importance of accurate pricing and realistic expectations. A well-presented property priced in line with – or slightly below – the local market average is far more likely to achieve a swift and successful let in today’s evolving rental landscape.
If you want to know more about how we value rental properties, or if you have a property that’s not letting at it’s current price, get in touch with our lettings department today. They will be able to walk you through our process and help plan the best way forward for your property.
