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ARLA reveals rental demand continues to outstrip supply

Demand for good quality rental properties continues to outstrip supply, despite the rise in average rental prices, according to the latest figures from the Association of Residential Letting Agents (ARLA).

The letting industry regulatory body’s bi-annual survey of its members revealed that more than 58% are still experiencing a significant gap between supply and demand.

This is an increase of 3% from the previous survey carried out in December 2011.

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Award Winning Property Management in Manchester

Award Winning Property Management in Manchester

Property managing agents in Manchester are reporting a rise in the number of enquiries from new property investors looking to enter the buy-to-let market and a high volume of existing landlords requiring better management of their current rental property portfolios.

According to Mike Clarke, Director of Castledene Property Management (Manchester) Ltd, Manchester city centre is a great place to purchase rental properties, as the current rental market is performing well. With a large number of students studying at different universities* in and around the Manchester area, the demand for rental property, in particular, shared and student accommodation (HMO – House of Multiple Occupation) getting stronger.

With the UK property sales market at rock bottom and asking prices for residential property still falling, there really is no better time to invest in property. With PRS rental returns increasing, and a wealth of products and services being made available, it is a really good time to be a landlord.

September is typically one of the busiest times of the year, with students returning to universities and private tenants moving into properties that have been available for rent and on the market since June/July.

Operations Manager at Castledene Property Management (Manchester) Ltd Mike Clarke stated that Manchester and the surrounding areas have become increasingly popular in the last 12 -18 months, with a number of proposals being put forward to improve the infrastructure of the area, including Port Salford, set to create thousands of new jobs, and new developments continuing to spring up around the city, landlords are looking for suitable properties to purchase for rental purposes in prime locations around the city centre and Salford Quays.

Castledene Property Management - Manchester

Castledene Property Management – Manchester

 

If landlords need award winning quality property management anywhere in Manchester or the North of England 

call 0161 777 8844 or 0191 527 4000 .

 

Award Winning Property Management Services

Award Winning Property Management Services

  

 

   

 

 *Manchester University, Manchester Metropolitan University, Salford University, and The Manchester College

 

Award Winning Property Management

Award Winning Property Management

Castledene Property Management was awarded as Silver in the Northern Medium Letting Agent category at The Lettings Agency of the Year Awards 2012 in association with The Sunday Times and The Times and sponsored by Zoopla.co.uk.

On Friday 25th May, over 450 leading lettings agents from throughout the UK attended a glittering ceremony at The Lancaster London Hotel opposite Hyde Park where the winners of only dedicated awards for the lettings agency industry were revealed. The winners received their awards from former Olympic Champion, Sir Matthew Pinsent who wowed the audience with some incredible stories of his achievements.

The awards ceremony was the culminating event of a rigorous and thorough judging process carried out over a four-month period by a panel of industry experts who assessed initial entry submissions before conducting an extensive review of the entrants, which included hundreds of telephone interviews and mystery shopping exercises. The whole of the judging process was overseen by The Property Ombudsman; Christopher Hamer.

Now in its third year as a dedicated competition, these awards have become widely recognised as the most sought-after and difficult to win. With more entrants than ever before, over 5,000 offices were represented this year, but only the very best of the best were crowned as winners.

Castledene Property Management winners of the Silver in the Northern medium letting agent category were delighted to receive the award.  John Paul, Managing Director commented “We are delighted to be recognised at such a prestigious event. All the hard work and dedication by the staff has paid off and it shows that with the right focus and determination you can prosper despite all the doom and gloom in the media”

A website listing all the winning companies with comments from the judges as to why they won can be found at www.lettingsagencyoftheyear.com

Peter Knight, Chairman of the event organisers Estate Agency Events commented; “Landlords and tenants can be confident that the agents displaying this awards medal represent the very best of the best. Whilst there has been much talk of the need to establish minimum standards for lettings agents, I am delighted that these awards can shine a light on those firms that are exceeding standards at every level within an increasingly competitive industry.”

The main awards were sponsored by Zoopla.co.uk, whilst the specialist categories were sponsored by some of the industry’s leading suppliers including Audio Agent, ARPM, BriefYourMarket.com, Endsleigh Insurance, Imfuna, LetMC, MidWest Displays, Moneypenny, Ravensworth, Reapit Spark Energy and The Property Academy. 

For further information, please contact Johnpaul@thecastledenegroup.com

There Will Never Be A Better Time To Invest In Property

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