This Week in Property: The Latest News (14th May 2021)

Take a look at what our CEO Gill Fielding has to say about this week’s property news…

Rental Hokey Cokey

I read that renters are flocking back into city centres – after having spent the last year moving out to the suburbs during lockdown.

According to Zoopla demand for city rentals in London, Leeds, Manchester and Edinburgh  has surged since Easter rising by up to a quarter this month.

It just goes to show how most people think only in the very short term. The lockdown started and people wanted to rent out of town so rents in the suburbs went up due to demand and rents in city centres fell due to lack of demand.

Now a year later the reverse is true and as demand increases in the city centres rents will rise. It’s a short term view for both the tenants and the landlords. I can’t think why tenants would want to move every year or even every six months – but they do and as a professional landlord I accepted that fact long ago. I’ve been a property investor for over 40 years and consequently I have a long term view.

I have seen fads, fancies, and fashions come and go and the property market still keeps doing its thing – and prices will always rise while demand outstrips supply.

So the property ‘hokey cokey’ is in full swing again as tenants move back and forth and as a professional landlord I just look on in amusement and content in the fact that what they do today is different to what they’ll do tomorrow and as long as I buy my properties sensibly I can relax.

 

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