The 2015 Derby Lettings Market & Looking Ahead to 2016

It has been a fantastic year for Hannells Lettings and we are very grateful to all of our customers and in particular the many people that have recommended us to their friends and families. This is the perfect time to look back over the year and make some predictions for what 2016 will bring for Landlords.

Perhaps unsurprisingly the busiest month of the year for new tenants registering with us was July and we also put more put the joint most new properties onto the market during this month. The summer months are traditionally the busiest for the rental market but what has been interesting this year has been the amount of demand we have seen in the Winter months of the year with us having booked more viewings in November than any other month and with this also being joint with July for the most new properties put onto the market.

Across the year there has consistently been more good quality tenants looking for properties than there have been properties available. This was at its most pronounced in May when there were approximately 8.5 tenants for every available property whereas the market was at its least competitive from a tenant’s perspective in March when there were just 3.9 tenants for every property.

Looking ahead to 2016 it already looks from the numbers of tenants that are registering with us like January will be a very busy month. The stamp duty changes in April may well have an impact on the supply of new rental properties over the second half of next year which could see some upward pressure on rents. However we would predict that most Landlords will look to keep their rents relatively static and instead ensure that their properties are let without any void periods and take advantage of the likely increase in demand by being very selective in only choosing the best possible tenants.

The market continues to look good from a Landlords perspective whereas for tenants it looks likely that there will continue to be a lack of supply meaning there is not much choice of property and a lot of competition for the best properties. At Hannells Lettings whether you are a Landlord or Tenant we look forward to helping you in 2016 and wish you all a Merry Christmas!