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A Year Review of Rentals: 2020

4th January 2021

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Despite the turbulence of 2020, one constant has been the strength and demand in the rental market. As with previous years, we have again experienced a growth in our management portfolio at Hannath and a record number of new tenancies/ properties let. This year more than ever, we have seen an increase in landlords opting for a full management service. Two out of every three properties we let instruct us to also manage the tenancy, which is definite increase on previous years. This may be as a result of landlords wanting the additional security and support that the management service offers in a time of emergency legislation changes, higher risk of unemployment and general concern about the security of tenancies.

There has also been an increase in rental values across many areas – notably, modern build 3 bed semi-detached properties are now achieving £675 - £700 per month in developments such as Lisnisky and Bachelors Avenue – this in an increase from £650pcm ceiling price only last year.

Properties in the Ballyoran area off the Garvaghy road have also seen a significant increase in the average rental value. 3 bedroom terrace properties would commonly never achieve more than £475pcm, whereas this year we have been achieving £500pcm, and in some cases £525pcm if the house has undergone refurbishment.

Hannath are able to offer a variety of landlord services and with a team of four full time staff able to deliver a round the clock service to take the hassle out of property letting, rent collection and maintenance / management.  Contact our team today on 02838399911.