Why are three-bedroom houses so popular with renters?

Wed 07 Oct 2015

Three-bedroom houses have been identified as one of the most popular types of property among tenants, with rents for these homes rising faster than any other.

New figures revealed in the Landbay Rental Index show rents for three-bedroom properties increased by 4.6 per cent over the last year - significantly higher than the UK average for all homes of 3.3 per cent.

In particular, those in key commuter areas around London were in exceptionally high demand, with some towns witnessing rental growth of more than ten per cent. John Goodall, co-founder and chief executive of Landbay, named the south-east as the most attractive proposition to buy-to-let investors and landlords at the moment.

Allison Thompson, lettings director at Leaders, says: “Three-bedroom houses are increasingly sought-after across the country. With the jobs market performing strongly, many people are picking family homes with good connections to cities that offer employment opportunities.

“Three-bedroom homes also have a wider appeal than just families as they are a good option for people wanting to share and also tend to be popular with couples.”

People relocating to a new area for work or family reasons often opt to rent for a period of time before they buy - and this is said to be another factor behind the surge in popularity of three-bedroom homes.

“Due to their wide appeal landlords are able to make an excellent return on three-bedroom houses in the right locations,” said Allison. “Rising demand and rents means this is an ideal time to make a property of this type available to let or to invest in a new buy-to-let project.”

For advice you can trust on all aspects of letting a property, including a free rental valuation, please contact your local Leaders branch.