Average Salford Rental Property Gets 47 Enquiries | RWinvest Skip to content

Average Salford Rental Property Attracts 47 Enquiries

Don't miss out on the best new investment deals. Enter your details now to sign up to our mailing list and receive exclusive information straight to your inbox.

    The Most In-Demand Locations for Renters

    A new report from Rightmove has revealed the most in-demand locations for renting. Over the past few years, the UK rental market has been characterised by a supply-demand imbalance, with tenants facing stiff competition to secure an available home.

    Rightmove notes that there has been a slight improvement in the supply-demand imbalance this year, as the number of tenants looking for a new home has dropped by 16% compared to 2023, and the available stock has increased by 8%. However, when looking at the 2019 market, there is more pressure in 2024, with 17% more tenants hoping to move and 32% fewer properties available.

    Additionally, the easing observed this year compared with 2023 isn’t being experienced in every area. Some locations are still seeing almost three times the national average of 19 enquiries per available rental property.

    An Address That Speaks for Itself - £23K Net Returns Today!

    The Gateway presents a residential crowning jewel. A tenant’s dream, offering the largest collection of facilities in the city.

      Salford skyline

      North West Rental Markets Some of the Busiest

      Rightmove’s ranking shows the UK’s busiest rental markets based on data relating to enquiries per available rental property. Wrexham topped the list with 54 enquiries per available rental property, and Rightmove states that the average advertised monthly rent in this area is £967.

      Focusing on the North West, Merseyside and Greater Manchester areas feature frequently in the rankings, showing this region’s marked popularity with renters and attraction for buy-to-let investors. The Wirral and Salford come in joint fifth with 47 enquiries per property. The average advertised rent in the Wirral is £999, while in Salford it is £1232.

      As a key regeneration zone in Manchester, Salford’s rental market has experienced an unprecedented boom in the past few years. A BBC article last year showed that Salford was one of the top ten locations for rent increases in the UK, with rents rising by 16% on average in a year. This Manchester district is earmarked for even more redevelopment over the next decade, likely leading to more demand for this transformed area.

      Liverpool and Manchester are also featured on the list in joint-thirteenth place with 41 enquiries per property. Rightmove states the average advertised rents in these cities are £1018 and £1362, respectively. The bustling rental markets in these cities have led to increased Liverpool and Manchester new-build investment.

      Looking to Learn More About Rental Yields?

      Our FREE guide on how to identify a good rental yield is essential! Fill in your details now for access to this helpful resource.

      More Rental Stock Needed in UK Market

      The UK property market has been consistently experiencing a supply-demand imbalance for the past few years which has meant extremely high rental demand, and rapid rises in rental costs.

      Rightmove property expert Tim Bannister, says: “Whilst at a high-level there has been an easing in the rental market compared with last year, from speaking with agents, we know that many local markets are yet to feel the effect from these improvements. At the same time, prospective tenants are still likely to be experiencing a very hot and competitive market. To be receiving upwards of 50 enquiries per available rental property in some local areas is an astonishing figure, which goes to show the significant amount of work still to be done to improve the balance of supply and demand across different areas of Great Britain.”

      Avatar photo
      Author

      Jessica Ferris

      LinkedIn Logo Muck Rack Logo

      Jessica Ferris is a property writer at RWinvest, helping our readers stay ahead of property market trends with the latest news and statistics.

      Want to Get in Touch?

      Fill in the form to contact us today and a member of our award-winning property team will be in touch to help.

        It will be my third investment apartment with RW Invest and I cannot recommend them highly enough. Sean Orrett and Chloe Walker really do go the extra mile. Chloe in particular helped me through a particularly hard time with solicitors and all the paperwork that was involved. Living in a different country and negotiating all the nuances that come with investing, she negotiated with ease and gusto. A big thanks to you both.

        Margaret Wiele

        Daniel Stewart, has assisted me every step of the way. This is my first property purchase and so took Daniel up on his offer to guide me through every step no matter how small. I felt comforted to have his assistance in documents I needed to both understand and sign. Couldn't be happier with the help and customer care I have received so far.

        Nathan Saxon

        We highly recommend RW Invest to anyone looking for an experienced, reliable and knowledgeable professional company.
        We are more than delighted with their services throughout the entire process. They provided us with extremely helpful advice and guidance every step of the way and ensured that we understood all aspects involved in securing a property through them.

        Stephanie Chidlow

        Chloe is very helpful. She has been a great help and solved all the difficulties I had with the purchase. I am happy she was there to help with the process. Very approachable and responsible.

        Muhammad Atif

        This was my second unit purchase with RWinvest, and I found the team to be very helpful in finding the best deal which suited my needs and budget. Arjun Surana, Adam Burns were really processional in answering all questions, Excellent follow up and ensures your property purchase are smooth from the start to end and supporting throughout the purchase/exchange of contract process.
        I highly recommend anyone to purchase their property with RWinvest.

        Dhote

        Arrow left
        Arrow right
        Disclaimer Image
        Landlord News, Manchester Investment, Market & Investment Trends, UK