💥 The KLIC | Feb 2025 Reading Lettings Market Update

📈 Rental Prices – In the 12 months leading up to December 2024, average UK private rents surged by 9.0%, reaching £1,369 in England, £777 in Wales, and £991 in Scotland.

💥 The KLIC | Feb 2025 Reading Lettings Market Update

💬 To all the sceptics out there – the lettings market is thriving!

📈 Rental Prices – In the 12 months leading up to December 2024, average UK private rents surged by 9.0%, reaching £1,369 in England, £777 in Wales, and £991 in Scotland.

🏠 Supply – There’s been a 13% increase in available rental homes compared to the previous year, easing the supply-demand imbalance.

👥 Demand – Despite a 16% decrease in prospective tenants year-on-year, the market remains robust with an average of 10 applicants per available rental property, double the pre-pandemic average.

Click the image above or head below to see the 'Investment of the month'

💷 Affordability – The average tenant now spends 35.7% of their income on rent, with 1 in 5 tenants allocating over half their income to housing costs.

💪🏾 With rental demand still significantly outpacing supply in many areas, landlords remain in a strong position. As we move through 2025, stability in mortgage rates, further base rate cuts to come and rising wages should help maintain a positive outlook for the rental sector.

Kiel 🥑

Your Reading Avocado Property Partner,

Small Business Owner & Dad 🫶🏾

☎️ 07769 345 086

🌐 https://avocadopropertyagents.co.uk/agent-profile/kiel-holder

#rdguk #avocadoproperty #dealintheding #theklic #landlord

Click the image above to see my Reading Market Update for February

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