Rental Market Hotting Up
According to all the Manchester agents who advertise their properties on Rightmove, there were 1074 lets agreed throughout the month of August. Excluding Sundays, this equates to 40 lets agreed everyday in the City Centre and Salford Quays for August. According to this data, the average rental price was £955 pcm and the average time on the market was down to 15 days !!
With September traditionally being the busiest month of the year, will there be enough stock to fulfil the demand or will the supply of good quality stock push prices even higher?
Reside will check and report back at the end of the month.
Manchester is clearly still booming.