Lack of rental property is creating a challenge


The island’s stock of rental property has dwindled to a new low, causing issues for people looking for both temporary and permanent accommodation.

With only a handful of properties on any local estate agent website, the picture is bleak for those who are not in a position to buy.

‘It’s very difficult for a lot of people right now, whether it’s younger people looking to move out of their family home, or people who have sold their home and need somewhere to live while they find a new one,’ said local market lettings negotiator Laura Gorvel.

‘We would appeal to anyone with a property sitting empty to consider renting it out. Becoming a landlord for the first time might seem like a daunting proposition. But with you don’t need to go it alone. Most estate agents offer a lettings management service, taking the stress out of renting out your property.

‘At Swoffers we provide a full service to both local and open market landlords. Our aim is to make the process as simple as possible, minimising potential problems and maximising rental return and capital growth.’

Since lockdown the local housing market has exploded, with a large number of islanders deciding to sell their homes for one reason or another. House prices rose by 12% in 2020 and there was a total of 1,017 local market sales. With stock of local market property for sale becoming tight, many people moved into rented accommodation as they searched for their new home.

‘I’ve never seen anything like it. By May and June, it went crazy with huge numbers of viewings on individual properties, and quite often people offering on the spot for fear of missing out,’ added local market director, Andre Austin.

For more information about renting out your property, contact Swoffers on 721757, or check out this guide.

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