Rightmove’s rental report for Q2 2018 has revealed some promising figures for us in the South West. The report has shown that properties in our region are being let out the fastest of the whole of the UK, taking an average of just 29 days (compared to 30 in 2017), with the slowest being 44 days in the North East. The national average is 36 days from the time a rental property goes on Rightmove until it is marked let agreed, which is the same as last year. Of particular note though is actually here in Bristol, which alone is averaging times as short as just 22 days.
The wider picture also shows that asking rents outside London rose 2.7% to £796 per month during Q2 (though the annual rate fell back to 0.7%) and new listings up 2.4% which means more choice for renters. In the South West specifically, the annual change in asking price of £797pcm stays the same.