The rental market is about to enter its busiest time of the year. Analysis from Dataloft Rental Market Analytics reveals that, over the last three years, on average 22% of each year’s tenancies have begun during August and September.
We estimate that this equates to just under 200,000 new tenancies which are set to begin over the coming weeks.
The flurry of activity at this time of year is a combination of students seeking accommodation before term starts, new graduates beginning new jobs and families looking to settle into new homes before the next academic year.
At the same time, there is also a surge in existing tenancies coming up for renewal around this time of year which further boosts competition for rental properties, should occupiers seek to move.