Rental market shows signs of New Year improvement

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Property portal Zoopla says more people want to move home now that the political uncertainty as cleared following the General Election.

Landlords hoping for an uptick in the rental
market following the General Election will be encouraged by the latest housing
market report published today by property portal Zoopla.

Its annual State of the Property Nation
report backed by TV presenter Phil Spencer includes reports from some 6,000
home movers across the UK including renters, and reports back on people’s
attitude to moving home at the beginning of each year.

Its latest effort reveals that a third
of those surveyed said they intend to move home during 2020 and third of THOSE
said they were ‘serious’ in their intentions, an 11% increase compared to last
year.

“There are increasing
numbers of people who are active in the property market and those seeking a new
property are serious about making a move,” says Andy Marshall, Chief Commercial
Officer, Zoopla.

His company’s market report also
provides succour for landlords hoping to reduce their portfolio sizes.

Its research reveals how confidence is
returning to the sales market and that more buyers are assured about getting
onto or up the property ladder, which should help increase values in the coming
months and also improve landlords’ capital value positions.

“We are seeing a
polarisation of the market. Confidence is slowly returning among buyers, but
this is moderated by a feeling of caution among sellers, with ongoing economic
uncertainty causing them to doubt whether they will achieve the asking price
they believe their property is worth,” says Marshall.

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