The trade press publications are now beginning to guess which way the lettings market will go in 2022, across England and Wales and the speculations are quite interesting, if not wildly differing depending on the publication.
These articles will, at some point, filter down to the national press and, in turn, the local press. So what conclusions can we draw from the early speculation?
The honest answer is NOTHING!
Why? Quite simply because no-one really knows what will happen. How can they?
So many factors come into play when you try and predict how a market, any market, will perform. Firstly, location has an enormous bearing. London, Birmingham and Manchester are seen as property hubs meaning that, in most cases, they are not affected as much by outside forces. Counties like Cornwall, Kent, Dorset and areas like the Gower Peninsula are seen as sought after locations for prospective tenants.
Then you have to factor in employment. Where will the growth areas for employment be in 2022?
Cornwall is now being touted as one of the primary growth areas for 2022 and beyond. Innovative industries are coming to Cornwall or expanding within the county, it is predicted the hospitality industry will bounce back from its staffing concerns in 2022 and with many new Eco projects up and running, or about to start, it is highly likely that the rental market will differ from that of England & Wales, but by how much?
As an experienced lettings agent and property manager Homequest prides itself on being pro-active rather than reactive. We are always looking forward, assessing what is happening in the local lettings market, be it daily, weekly, monthly or quarterly and this enables us to provide accurate advice to our clients.
The lettings market for Truro, Falmouth and surrounding areas has been extremely busy in 2021. In some cases, demand outstripping supply by over 100-1. That doesn’t mean that rents can be hiked up to unsustainable levels, it just means that a lot of people have come out of the pandemic wanting, or needing, to live in Cornwall. Does that mean it will continue in 2022? Possibly yes, possibly no. We won’t know until we get there but one thing is certain;
If you are a landlord and you want up-to-date advice from experienced people, then just call Homequest on 01872 222112.
