Sawbridgeworth and Bishop’s Stortford Tenants Face Further Rent Hikes, as the Number of Available Rental Homes Drops by 39% - Our blog

Sawbridgeworth and Bishop’s Stortford Tenants Face Further Rent Hikes, as the Number of Available Rental Homes Drops by 39%

Sawbridgeworth and Bishop’s Stortford Tenants Face Further Rent Hikes, as the Number of Available Rental Homes Drops by 39%

Market News Adam Mackay 1st December 2022

· The number of properties available to rent in Sawbridgeworth and Bishop’s Stortford has dropped from 288 to 175 since February 2020.

 

· The average rent a tenant has had to pay in Sawbridgeworth and Bishop’s Stortford has risen from £1,103 to £1,295 since February 2020.

 

· Many Sawbridgeworth and Bishop’s Stortford landlords have cashed in on the post-lockdown property boom of the last two years and sold their properties to owner-occupiers - not fellow landlords.

 

· The supply of Sawbridgeworth and Bishop’s Stortford rental property isn't near what is needed, which is of benefit to Sawbridgeworth and Bishop’s Stortford landlords rather than renters.

 

The Sawbridgeworth and Bishop’s Stortford rental property shortage is currently very evident. In this article, I will investigate why there is such a significant lack of homes available for rent across Sawbridgeworth and Bishop’s Stortford and what it means for buy-to-let investors.

 

Anybody who enjoys surfing the property portals (Rightmove, Zoopla and On the Market) will have observed an emerging trend that the number of properties available to rent in Sawbridgeworth and Bishop’s Stortford has dropped considerably in the last couple of years.

 

This reduction has been seen all around the UK as well. For example, on 1st November 2020, there were 372,931 properties to rent on portals. By the 1st November 2021, that had dropped to 275,650; by the 1st November 2022, that had fallen to 171,224.

 

That doesn't mean the number of privately rented homes in the country has dropped by over half. Fewer properties are coming onto the market to rent. I will explain why in this article.