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Laura’s take on the CityLets Q1 report
With the Q1 Citylets report hot off the press, here’s our take on the current rental landscape by our director, Laura.
After what feels like a very long wait, we’re welcoming the end of the rent freeze legislation and operating in a freer market for the first time since pre-Covid.
The Citylets data backs up what we’ve seen on the ground: the rental market is still growing, but at a slower, steadier pace, with a clear market peak in October 2024.
Time to let is slightly longer which is a typical Q1 pattern, made slightly stickier by high stock levels and landlords being understandably cautious about setting rents. Hopefully, with a bit of breathing space, we’ll see properties settle at fair market values and Q2’s demand kick in to help rebalance things.
The market is also showing some welcome signs of calm, with fewer landlords exiting, and potential relief on mortgage costs despite broader economic uncertainty.
So, it’s not quite the 20% growth we saw in parts of 2023, but a stable, inflation-tracking rental market is ultimately good news for both tenants and landlords. It’s also a timely reminder to keep investing in your property to attract quality tenants, avoid costly maintenance surprises, and protect long-term value.
You can read the whole CityLets report here and look out for commentary from Laura on page 14.
Read the full Citylets report here
