Landlord searches for letting agents increase by 21%

29 July 2020 | General

Data from letting agent comparison website Rentround shows that landlord searches on the platform has risen by 21% since the stamp duty holiday was implemented by Chancellor of the Exchequer Rishi Sunak.

Rentround claims that these findings show that buyers are conducting due diligence activities on the potential purchase of a property bought for buy-to-let purposes.

Raj Dosanjh, founder at Rentround, said: “The stamp duty holiday has brought a flood of positivity across the property market.

“The increase in the number of comparisons run on our platform indicates landlords are looking to add to their portfolios, or that a new wave of landlords are looking to enter the market.

“Traffic on the site increased prior to Rishi Sunak’s announcement, based upon rumours that the holiday may apply to the buy-to-let sector. From the 8th of July, when it was confirmed that the holiday applied wider than first time buyers, the number of letting agent comparisons conducted increased dramatically.

“I’m proud we’re helping landlords to enter the property market, save on rental fees and connect to their ideal letting agent.”

The increases in searches are nationwide however there are pockets of significant increases, with Manchester letting agent comparisons rising by 33% followed by Newcastle and East London with increases of 31% and 29% respectively.

In regards to rental yield data, London and its surrounding regions are still seeing lower rental yields with no postcodes in the top ten. Liverpool is seeing the highest rental yields, with three postcodes in the top six.

This post has originally been featured in Property Wire.