Lettings applicants in the Country have increased by 15 per cent compared with the same time last year, according to the latest research from Hamptons International. Demand for a rental move in time for the summer holidays has significantly heighted amongst families when looking at the yearly figures which saw a four per cent differential between April 2011 and April 2010.
Karen Standing, Regional Lettings Director at Hamptons International says: "Each year, our applicants start their property search earlier and earlier in time for the start of the school holidays and the new school year. High competition for family properties and the Olympics are encouraging tenants to make their move even earlier this year. Windsor in particular is attracting tenants from London (42 per cent increase) due to the good schools and commuter links to London."
Although applicants have increased in the Country, renewals are also significantly higher than the same time last year (22 per cent). Karen Standing continues: "Due to rental increases and high sales prices many families who have secured a school place are making the decision to stay put and continue renting. We've also seen notable increases in demand for longer tenancies of around 18 to 36 months to ensure security and continuity."
Across the Lettings market as a whole, stock has increased by 33 per cent on the same time last year. Lesley Cairns, Head of Lettings at Hamptons International says: "We've seen a significant increase in rental stock as more Landlords are looking to the flexibility of the rental market before making the decision to sell. Tenants are undoubtedly being offered more choice, however quality family homes in commuter areas of the Country are firmly at the top of the hot list and are flying off the market."
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