Covid-19 Economic Impact Sees Rental Demand surge
With the younger generation and would be first time buyers seeing great uncertainty in the job market, many are putting off taking on a mortgage until they see a better outlook for their careers. This has resulted in many deciding to rent rather than buy. We are seeing record numbers register for all types of properties to rent.
We are also noticing that tenants are staying in the same property longer on average than last year. This most likely being due to people putting off buying a house, or even moving to save money.