Rental Property Market trends – Teignbridge Lettings

In simple terms, the rental market is crazy busy right now. Every area we deal with is seeing huge demand which is far outstripping the supply of rental property. But there are some area-specific trends within this busy rental market. So what market trends are we seeing in the Teignbridge Lettings?

Demand in all areas is high, whether it’s for small flats or family homes. The Teignbridge area is always popular both for its rural and coastal areas, Teignbridge offers a best of both worlds’ location for many tenants with easy access to the coast, wilderness such as Dartmoor, and urban areas. Plus, its convenience to the A38 and commuting to both Exeter and Plymouth, offers significant benefits to those looking to create a better work-life balance or who are now working in a more flexible way. As we move out of lockdown and people return to the normality of working not at home, this easy access to local cities is likely to create even higher demand in Teignbridge.

The other benefit of Teignbridge is it tends to have slightly lower average rental prices compared to the South Hams and yet still offers easy access to the countryside. It also benefits from a good selection of school and education options.

One thing we are noticing right across all areas is that there are a lot of house sellers out there who are looking to rent short term (ish). Partly because there is a limited supply of properties to move to but to also help ensure that they do not hold up any sales chain. It also allows them to take their time to find the right property to move to. These tenants are often looking for a property that is on the higher end of the rental market.