Stay informed with the latest insights and trends in the rental market

February’s market performance continued to exhibit a robust level of newly listed properties. Furthermore, Prospect Estate Agency recorded an unprecedented number of tenant registrations in February compared to previous February’s, resulting in consistently healthy rental yields.

Some notable highlights from January include:

  • A significant 10% surge in tenant demand compared to February 2023.
  • A 4.3% month-on-month decrease in new instructions across the entire market (January vs. February 2024).
  • Rental prices saw a 1.55% month-on-month increase (January vs. February 2024), with the average now standing at £1570 per calendar month.

The data paints a vivid picture of a vibrant and highly competitive landscape. As we progress into the remainder of Q1 2024, it is crucial that we meticulously monitor these trends and advise our landlords accordingly to seize any arising opportunities.

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To discuss the insights presented within this report, or for personalised advice, please contact Michael Gallagher on 0118 955 9701 or email [email protected]

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'Prospect' has recently helped me with selling my flat although my property was not the easiest to sell. 'Prospect' is represented by a team of enthusiastic, hardworking, professional, hardworking people who don't easily give up. I definitely recommend 'Prospect'.
- Katarzyna.

I moved to Prospect from another Agency last year after a complete refurbishment of my flat ready to let and I am so glad I made the move! I am particularly impressed with Agnese and the way she is managing my property, very efficient, always cheerful and very helpful.
- Melanie.

Prospect Estate Agency is committed to conduct our operations in a fully compliant manner. We fully support and adhere to all regulations covering the industry including The Estate Agency Act 1979, Competition Act 1998, The Consumers, Estate Agents and Redress Act 2007, Consumer Protection Regulations 2008, Sanctions and Anti-Money Laundering Act 2018, GDPR Act 2018, UK Competition Law, The Property Ombudsman Code of Practice and ARLA & Propertymark Protection.

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