The Lettings Market Roundup: March 2025

Market Performance

The first quarter of the year has been particularly strong. February saw the highest number of move-ins recorded in the past three years, with January showing similar figures. March is expected to follow this positive trend, indicating a buoyant rental market.

Landlords are actively adding to their portfolios, with many first-time landlords entering the market. We are also seeing rapid property turnaround times, with well-priced homes being rented out within weeks.

Regional Insights

Our coverage includes Morley, Rothwell, Bramley, Beeston, and Wakefield, among others. Recent data shows:

Over 50% of new property instructions in March have been in LS10 and LS11.

The highest number of move-ins this year have taken place in Morley and Rothwell, areas known for good schools, local amenities, and excellent commuter links.

Rental Prices and Market Stability

Many landlords ask whether rental prices are fluctuating. So far, prices remain strong with no indications of a downturn. Properties are being let at asking prices within a few weeks of listing, highlighting the market’s resilience.

Upcoming Regulatory Changes: The Renters’ Rights Bill One of the most significant changes on the horizon is the Renters’ Rights Bill, set to be introduced in the coming months. Key changes include:

• Fixed-Term Tenancies: Transitioning to periodic rolling contracts (month-to-month) instead of fixed-term agreements (6 or 12 months).
• Abolishment of Section 21 Notices: Currently, landlords can issue a no-fault eviction notice, but this will be phased out. Instead, adjustments to Section 8 will allow landlords to regain possession under specific circumstances, such as selling the property, moving back in, or tenant breaches.

Shifting Landlord Strategies

With these changes in mind, landlords are conducting more research before entering the market. This trend is leading to:

Increased numbers of portfolio landlords expanding their investments.

A focus on maintaining high property standards, resulting in longer tenancy durations.

A potential decline in non-compliant landlords, leading to more properties being put up for sale.

Predictions for 2025

Looking ahead, we expect:

A continued influx of first-time landlords ensuring compliance and high property standards.

More portfolio landlords investing in well-maintained properties to secure long-term tenants.

A shift away from landlords who do not adhere to compliance standards, leading to more properties entering the sales market.

Strong rental prices persist, making it an attractive market for investors.

Overall

The lettings market remains strong, with significant movement in both tenant demand and landlord investment. Regulatory changes will bring adjustments, but they also present opportunities for landlords who prioritize compliance and quality.

For further updates and guidance, feel free to get in touch. We’re here to help ensure your properties and future investments remain successful in this evolving market.