JLL (John Lang Lasalle IP, 2024) have recently released the results of their buyers and tenants survey, which looks at trends in the property market. At this volatile time, these trends may help landlords and investors to predict a fast-moving market.
The results are broadly optimistic from an economic point of view, with an increase in demand across the board. The rental market has cooled a little, possibly becoming more stable. Interest rates have clearly negatively affected first time buyers and affordability within the mortgage sector, with 61% of buyers waiting for rates to fall further this autumn.
Particularly interesting for landlords, was the priorities for tenants, which were energy efficiency and broadband speed. They are also very attracted to the ability to work from home, with 74% of tenants only being in the office 1 day a week. Another key priority was distance from public transport, with 91% of tenants citing this as their top priority when looking for a rental property.
Creating ‘rentalable’ properties will always be key for a successful property business, creating happier and more settled tenants in the long-run. Full report can be found here
