What’s in Store for 2024? A Look at the Year Ahead in the Buy-to-Let Sector

What’s in Store for 2024? A Look at the Year Ahead in the Buy-to-Let Sector

This year was challenging for the private rental sector, but looking ahead, landlords have plenty of reasons to be cheerful.

Here’s an idea of what forecasters predict for the next 12 months.

Demand

The long-term imbalance between housing supply and demand shows no sign of abating. Expect this year’s high occupancy rates to continue.

Changing search criteria

The increased cost of renting means more renters are sharing with other people, looking for homes in cheaper areas and looking at smaller properties. Experts anticipate this to carry on in 2024.

Energy efficiency

The ongoing high cost of energy means tenants will continue to pay close attention to the energy efficiency of a property.

Interest rates

The Bank of England (BoE) base rate is currently stable and could fall to 4% by the end of 2024 (Source: Berenberg Bank).

Inflation

Price rises are slowing. Inflation was 4.6% in October and the BoE expects it to be 2% by the end of 2025. 

For more insights on the local rental market, contact us today.