Renters, too, want to head to the hills (and the coast)
After several reports of buyers wanting to leave the big cities and head to less crowded areas like the westcountry, now it appears that the rental market is heading in the same direction. Information collated by the property website Home says:
- demand from renters in London, Birmingham and other cities has fallen sharply;
- while demand in the south west is rising, pushing rents up 8% in a year;
- favourite ‘must haves’ include a garden or terrace and access to the countryside.
Even before the pandemic the private rental sector was increasing – it’s now 20% of all homes in the UK. On top of that, the extra appeal of small cities like Exeter and of rural East Devon make buy to let a more attractive investment now than for many years.