Are landlords crying out for your help?

MINOLTA DIGITAL CAMERAWe know that landlords are effectively being throttled by the government at present, so you’d think that more and more will be looking at cost savings in the future, and this might well spell bad news for agents.

Yet could it really be true that the significant proportion of landlords who currently rely on an agent will really make do without you, just for the sake of saving a few extra quid?

We certainly hope not, and recent research from the National Landlords Association (NLA) would seem to agree..

Shout it from the rafters

Yes, there has in fact been a seven per cent rise in the proportion of landlords who use a letting agent to help manage their property between the end of last year and the first quarter of 2017, and nearly a 10 per cent decrease in the proportion who say they self-manage over the last year – falling from 46 per cent to 39 per cent.

To put this into context, the proportion of landlords who use an agent has remained fairly stable for the past 4 years, shifting just a single per cent.

Yes, but…

But what? This is good news. Stop moaning.

Well, it’s not exactly good news for everyone, but I’ll come back to that. At the very least though, it strikes a positive note in what is otherwise a pretty depressing time for letting agents.

Regional variances

So about the good news….it very much depends on where in the UK you operate. For example in outer London, the South West, and Wales there have been significant increases in reliance from landlords over the past quarter. Yet the opposite is true in the East of England, central London, and the North West.

There are some interesting regional variances too: landlords in the North East are the most reliant on agents in the whole of England, yet in the North West they are least reliant compared to other UK regions. Similarly in London, agent usage in central areas has decreased, yet it has risen in outer regions.

A blip?

Perhaps, but we have to take the good news as and when we get it, and while we still predict rough roads ahead for many agents, for the time being at least it looks like landlords are calling out for all the professional help they can get. Go forth and help them.

Here’s the regional breakdown in full…

 

Region

%

landlords

who use an

agent

Q4 2016

%

landlords

who use an

agent

Q1 2017

 

%

change

East of England

63 57 -6

East Midlands

54 62

+8

London Central

68 62 -6

London Outer

60 71

+11

North East

69 78

+9

North West

61 56

-5

Scotland

73 79

+6

South East

56 65

+9

South West

57 68

+11

Wales

53 62

+9

West Mids

63 67

+4

Yorkshire 58 64

+6

 

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