Charlotte Dover of The Buying Solution offers The Times some market intelligence on the rental revolution currently taking place. The lettings market is seeing an increasing demand for properties in all price brackets, ranging from country houses with equestrian facilities to one-bedroom city flats. Generation rent are now being joined by the wealthy and tactical renters who are opting to go down the rental route rather than buy because of factors such as Brexit and higher stamp duty taxes.
Charlotte Dover, explains: “Many of our clients are looking for a property with a similar feel to what they would like to purchase, for example with a good amount of land as part of the rental, or properties with tennis courts and pools. A high quality of finish is also on the wish list as clients are usually coming from their own homes and are looking for a similar feel from their rental.
“Those who don’t have to sell are often still choosing to rent before buying to see what will happen in the market. Those who do need to sell are often doing so and going into a rental to put themselves in a cash buyer position when the right property comes up although in the Cotswolds this is not purely a Brexit linked scenario as the continuing popularity of the area means the best houses to buy go quickly, as do the best properties to rent, often being agreed off market.
“There is the same situation with the best rental properties for example an 8 bedroom property with equestrian facilities in west Oxfordshire which we have recently helped a client secure. This client was also looking for a very long-term rental as they see this as a better option than purchasing a similar style of house in the current market.”
To read the full article click here; https://www.thetimes.co.uk/edition/bricks-mortar/prepare-for-the-rental-revolution-ghpcf8kmm