Is the rental market seeing the green shoots of recovery?
According to FindaProperty, the number of available properties for rent has seen a drop of 6.2 per cent in September. It is a big drop for the last 18-20 months but the total number is still 37 per cent bigger compared to 12 months ago.
FindaProperty points out that the amount of flats went down by 7 per cent whereas the number for the houses has seen a smaller deviation by 4.7 per cent.
Another interesting statistics is that the average time to rent out a property has decreased to 59 days from 66 days over the course of last few weeks.
Our director Sarah Akkus commented: “These are all good signs for the rental market. We are not only seeing continued recovery in the rental market but also witnessing the over supply to be normalising”.