In-Demand Rental Markets in the North West

According to recent data, some areas in Great Britain are experiencing up to three times the national average of 19 enquiries per available rental property. Among the top 20 busiest rental markets are Blackpool and Lancaster, two locations proudly covered by Farrell Heyworth.

North West Locations in the Top 20 Most In-Demand Rental Areas

Let's take a closer look at how some of the North West's rental hotspots are performing in 2024:

Blackpool – Ranked 11th

Blackpool, known for its vibrant entertainment scene and seaside charm, remains a favourite among renters. With an average of 44 enquiries per available rental property and an affordable average monthly rent of £805, it's no surprise that Blackpool is in high demand. Its balance of affordability and lifestyle appeal makes it a top choice for families and professionals alike.

Lancaster – Ranked 13th

Historic Lancaster is another standout location, averaging 41 enquiries per rental property. Its proximity to excellent schools, universities, and transport links drives demand. At the same time, the average advertised rent of £992 per calendar month remains competitive for the region. Lancaster's mix of cultural heritage and modern amenities makes it a highly desirable place to live.

What's Driving Demand in These Areas?

The North West has consistently attracted renters thanks to its affordability, employment opportunities, and lifestyle benefits. Here are a few key factors contributing to the region's popularity:

• Affordability: Compared to major cities like London, the North West offers lower rents, making it an attractive option for tenants seeking value for money.
• Employment Hubs: Cities like Lancaster and Blackpool provide access to diverse job opportunities, from education to healthcare and hospitality.
• Lifestyle Appeal: Whether it's the bustling seaside town of Blackpool or the historic charm of Lancaster, the North West has something for everyone.
• Transport Links: The region's excellent road and rail networks make commuting and travel convenient for residents.

What Does This Mean for Renters?

While some areas are seeing slight improvements in rental availability, hotspots like Blackpool and Lancaster remain highly competitive. Prospective tenants in these locations will likely face strong demand, with enquiries per property far exceeding the national average.

How to Secure Your Ideal Rental Property

If you're planning to rent in a competitive market, preparation is key. Here are some tips to help you stand out:

• Get Your Documents Ready: Ensure you have your references, proof of income, and identification prepared to show you're a reliable tenant.
• Be Quick to Act: In high-demand areas, properties can be snapped up quickly. Keep an eye on new listings and be ready to arrange viewings promptly.
• Register with a Trusted Estate Agent: Farrell Heyworth offers early access to the latest rental properties in the North West, helping you find your next home before it hits the broader market.

Why Choose Farrell Heyworth?

At Farrell Heyworth, we understand tenants' challenges in today's competitive rental market. With offices across the North West, including Blackpool and Lancaster, we provide local expertise and a wide selection of rental properties to suit every budget and lifestyle.

Whether you're looking for a coastal retreat or a home in the heart of a bustling city, our experienced team is here to help. Contact us today to start your rental journey.

SOURCE: https://www.rightmove.co.uk/news/articles/property-news/most-in-demand-rental-markets/