Lettings rebound in June

After a somewhat quieter period during April and May the lettings market has rebounded strongly during June. With lettings over the past 4 weeks higher than this time last year the increase in activity once again proves the underlying strength of the rental market in Liverpool. Whilst April and May can be traditionally one of the quieter periods of the year (as many students leave to go home) this year we experienced a more pronounced dip in activity, probably not helped by an overall increase in supply.

Rents continue to increase although the rate of inflation over the last couple of months has slowed quite dramatically and is probably running at around 4% per annum. This is substantially down from the double figure % increases in rents we were experiencing during 2023/2024. Given the substantial increase in supply of new apartments coming to the market, and the inability of some landlords bieng able to sell due to building safety issues, we would anticipate that the level of growth in rents will stay in the low single figure % for the foreseeable future.

With the Renters Rights Bill having progressed quickly through the House of Lords and the House of Commons we are expecting it to become law and implemented sometime during early Autumn. It is difficult at this stage to forecast what effect it will have on the market although our initial view is that it will have only a limited effect on supply/demand and therefore any movement up or down in rents.