Latest news from the property market

The UK rental sector in 2023: Values and demand

Viewing properties to buy.

The UK rental sector is a vital part of the economy, providing homes for millions of people. In recent years, the sector has seen significant growth, driven by a number of factors, including rising house prices and the increasing number of people renting instead of buying.

One of the key challenges facing the rental sector is the lack of affordable housing. The government has pledged to build 300,000 new homes each year, but this is not enough to meet the growing demand. More needs to be done to encourage house building and to make it easier for people to buy their own home.

Another challenge facing the rental sector is the lack of regulation. The government has introduced some new regulations in recent years, but these are not enough. More needs to be done to protect tenants from unfair practices by landlords.

The rental sector is a vital part of the UK economy, and it is important to ensure that it is fair and sustainable.

Viewing properties to buy.

The Values of the Rental Sector

The rental sector is built on a number of core values, including:

  • Choice: The rental sector provides people with the choice of where they live. This is particularly important for people who are unable to buy a home, such as young people and those who are moving to a new area.
  • Flexibility: The rental sector allows people to move more easily than they would if they owned a home. This is important for people who are changing jobs, going through a divorce, or simply looking for a new place to live.
  • Affordability: The rental sector is often more affordable than buying a home. This is particularly important for people who are on a low income or who are saving up for a deposit on a house.

The Demand for Rental Properties

The demand for rental properties is high in the UK. This is due to a number of factors, including:

  • Rising house prices: The average house price in the UK has increased by over 20% in recent years. This has made it more challenging for people to buy a home.
  • Low-interest rates: Low-interest rates have made it cheaper to borrow money, which has led to an increase in demand for rental properties.
  • Changing demographics: The UK population is ageing, and there is a growing number of people who are looking for rental properties.

Foster Lewis and Co offers a range of services to landlords, including property management, tenant screening, and rent collection. We have a strong track record of success, and our team of experienced professionals is committed to providing the best possible service to its clients.

If you are thinking about renting a property, or if you are a landlord looking for a reliable letting agent, Foster Lewis and Co. is the perfect choice. Contact us today to find out more about our services.

Foster Lewis & Co – Estate Agents in Coventry & Warwickshire

Leave a Reply