Online lettings platform lettingaproperty.com has shared new data highlighting just how competitive the rental property market is right now.
Between Q2 2022 and Q3 2022, the firm reveals that the average number of viewing requests per property rose by over 25%, from 19 to 24.
October 2022 saw a further rise, with multiple properties attracting viewing requests in triple digits, and one London landlord receiving 134 viewing requests.
The volume of requests has risen so steeply that some landlords are now putting adverts for their properties on hold as they deal with the elevated level of demand.
With competition fierce among renters, it’s now taking an average of just four days to let a rental property, according to the latest lettingaproperty.com figures.
“We’ve seen a significant increase in property enquiries over recent months, with many landlords receiving more than 50 viewing requests and some receiving more than 100. It’s definitely a landlords’ market, with fierce competition for rental properties leaving many tenants disappointed.”
Jonathan Daines, Founder and CEO, lettingaproperty.com
