Lettings Review: January 2025
Welcome to our first Lettings Update of 2025. We sat down with two of our resident lettings experts to get some answers on what's happening in the world of Leeds' Lettings at the moment. Joe Thornton is Lettings Manager for South Leeds Lettings, which consists of key areas like Morley, Rothwell, and Beeston, among others. Tesh Surti is the Branch Manager for our North Leeds Lettings team and overseas areas like Pudsey, Crossgates, Moortown, Headingley and more. Let's see what they have to say about the Rental Market so far in 2025.
What's the Lettings Market looking like in Leeds so far in 2025?
The start of the year has been extremely positive across Leeds. There has been a surge in new instructions and landlords entering the market, with Morley alone seeing a 10% increase in listings and move-ins compared to the same period last year. However, some landlords are choosing to leave the market due to the impending Renters Rights Bill. Others are emigrating but continue to rent out their properties, highlighting the importance of a good lettings agent. Overall, the market is off to a strong start.
Have you picked up on any early trends in 2025 so far?
Landlords are increasingly doing their homework, with those choosing to stay in the market committing to more due diligence in preparation for upcoming changes under the Renters Rights Bill. Many landlords are conducting valuations 6-9 months in advance and carrying out thorough research. It’s a period of transition, with some landlords weighing up whether to leave the market or adapt to the evolving landscape.
The Renters Rights Bill...Discuss!
The Renters Rights Bill is the key topic on every landlord’s mind right now. During valuations, there is clear awareness of the upcoming changes, though opinions remain mixed. Some landlords have already left the market, while others welcome the reforms. Many sit somewhere in the middle—supporting the move toward a more professionalised industry but concerned about the short-term costs of ensuring compliance.
One of the biggest questions surrounds the abolishment of Section 21 and the strengthening of Section 8. Landlords are eager to see how this will work in practice, particularly regarding their ability to regain possession of properties when necessary. While a stronger Section 8 should, in theory, provide clearer grounds for possession, apprehension will remain until the changes are fully implemented.
What are your Predictions for the Lettings Market in 2025?
Landlords leaving the market tend to be the more traditional landlords who have been in the industry for a long time. This opens up space for newer landlords to move into the market, who on the whole, are more comfortable with the upcoming changes and less worried about the raised compliance threshold that these changes will bring. Typically, these newer landlords will provide better quality properties, comply with regulations and ultimately provide tenants with long-term homes.
Updates and Advice on Upcoming Changes
As always, we'll continue to update our landlords on the upcoming changes. As soon as we know, you will too! Our latest blog on the Renters Rights Bill breaks down all the key changes we expect to see so far.
If you have any questions or would like to discuss anything with a member of our team directly, please give us a call and we'll be happy to help.
North Leeds Lettings - 0113 2369888
South Leeds Lettings - 0113 2203465
