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Under the skin of the letting market

Here we share news and views on both the local letting market in & around Oxfordshire and all planned and recent legislation.

List your property by Christmas to catch the January migration

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Landlords who wait until after Christmas to list their property will miss the surge of activity from tenants looking for a new home.

Every year we see the same trend: jolly browsers search for property while pulling crackers, making the most of their time off to window shop for new properties from the comfort of their own home. When we return to work in January we always have a wave of enquiries to respond to; last year we received 922 enquiries while the office was closed over Christmas. This results in a significant number of great lets every January (see graph).

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However, if you want to let your property at the best rent and to the best tenants in 2017 you need to list your property with Finders Keepers before Christmas – the earlier the better. Finders Keepers sealed a total of 348 lets during December 2015 and January 2016, illustrating that house hunters are still actively searching for their perfect home over the party season.

It is important to note however that much of the leg work behind these successful lets had been completed in advance. Potential tenants will typically start making enquiries throughout December. The holiday week is then an opportunity for them to consider and discuss properties with those around them, meaning that they are ready to proceed at the start of business in January.

You need to start taking active steps now to put your property on the market: read up on the legislation, meet a couple of different agents, and start planning your strategy. You (or your current tenants) will not be bothered with viewings at the property over the holiday break, but it makes sense for prospective tenants to be able to look online, whet their appetite and contact us to book viewings in the New Year.

Colin Berry our Senior Office Manager in North Oxford suggests “Even if you haven’t got to that stage yet, if you’re thinking about letting your property, do give us a call to chat through your options. A good agent will give you an honest valuation based on similar properties they have let in the area. Beware of the agent whose valuation comes in much higher than others – the likelihood is the property will sit empty before they propose a decrease to a more realistic rent. Similarly, good agents know what they are doing: if they give you feedback on how to make the property more attractive to great tenants then do consider taking action.”

Listing your property with Finders Keepers will mean that you can start your new year with a bang, safe in the knowledge that your property will be reaching its full rental potential.

Make the most of the festive house hunting traffic and act now.

In numbers:

  • Christmas Day: 1.37 million Rightmove National Visitor Sessions (30.6% more than the previous year)
  • Boxing Day: 2.1 million Rightmove National Visitor Sessions
  • New Year’s Day: 2.66 million Rightmove National Visitor Sessions
  • First two weeks of the year: 55 million Rightmove National Visitor Sessions
  • had 12,266 visits in the first two weeks of 2016 (4th – 17th January) and we received 75% more property enquiries in January compared to December.