Rental Property Market trends – South Hams Lettings

As in all areas, the demand for property is still high whether sales or rentals. There is still a trend for people wanting to work from home. So, there are people looking for somewhere in a nicer part of the country to work from. So why not in the South Hams area. The South Hams is providing popular with those looking to relocate, which means there is high demand in the south hams lettings market.

Although rents tend to be a little higher in the South Hams from say Torbay, the rent paid for a one-bedroom flat in London could rent a 3–4-bedroom house in the local area. This is drawing in many a city dweller, who is looking for their own escape to the country. However, a word of warning to the landlords out there who may be tempted to push up prices in favour of capitalising on the city exodus. Many of those currently relocating as they are working from home, may not have received confirmation from their employers that this is a permanent change. Therefore, I will keep in mind that this may be a ‘lockdown effect’ and that at some point that will all change and there could be an exodus back to the cities.

This increased demand from relocators has also had an impact on locals looking for property. This makes it quite challenging for locals in the area who are looking for property and there is a risk that they could be priced out by the demand. Landlords need to keep in mind that a good long-term tenant at sensible rent, will outweigh a short-term higher rent tenant any day. Therefore, depending on the type of tenant you wish to attract make sure you consider your rental value in a wider context than simply the current demand.