“Rental demand has risen strongly amid increased activity in city centres, but supply is still constrained, leading to the fastest growth in rents in Q4 than at any time over the last13 years”, according to Grainne Gilmore, Head of Research at Zoopla.
The Zoopla UK Rental Market report, published today, shows year-on-year Manchester rental price growth of 9.5% in the 12 months to December 2021 and an average time to let of only 12 days, which is amongst the quickest of any UK city. A key driver for this growth is due to UK rental demand is up 76% in January compared to similar periods between 2018-2021, this is particularly true for high quality rental accommodation in Manchester City Centre, which is significantly outweighing supply.
You can see the full report here: https://advantage.zpg.co.uk/insights/rental-market-report/
Our lettings and property management our currently achieving an average rent of £1,100 for 1 bed apartments and £1,600 for 2 bed apartments and the average let time is around 8 days. You can see a breakdown of our full services here: https://nppresidential.co.uk/management/