As autumn leaves begin to fall, the local rental market in King's Lynn continues to evolve. In this report, we will provide you with a comprehensive overview of the state of the King's Lynn lettings market during the month of October.
With a keen eye on data, we aim to offer valuable insights to landlords, tenants, and industry professionals, helping you make informed decisions in an ever-changing rental market.
Let’s have a brief look at what’s been happening over the last month in the lettings market in King's Lynn.
There are currently 186 properties available to rent in the area. This is a similar number to the 197 that were available during the same month last year. Back to 2023, last month, there were 165; in August, there were 162; in July, there were 138; in June, there were 136; and in May, there were 160 properties available to rent in the area.
There is a steady number of properties coming onto the local rental market each month. In May, there were 66; in June, 56; in July, 65; in August and September, 74; and in October 89. We expect this steady flow of properties onto the market to continue as we head towards winter.
The average property rent in King's Lynn is currently £921pcm which is a 2.7% increase since July, when the average rent was £897pcm.
In October, 58 lets were agreed in King’s Lynn and the local area; in September, there were 45; in August, there were 63; in July, there were 42; in June, there were 56; and in May, 66 lets were agreed. There is always a lot of demand for rental properties in King’s Lynn and the local area. This time of year is always an especially busy time, with many people being keen to move in time to be settled into their new homes for Christmas, so if you are considering letting a property in King’s Lynn or the surrounding area, now is the ideal time to do it.
In May, each rental property in King’s Lynn and the surrounding area had an average of 58.2 daily views on Rightmove; in June, they settled at 55.4; and in July they rose slightly to 63.9. During August they soared to 80.2. The spike in August is due to tourists window shopping. They settled down again to 64.9 in September; and In October, they remained steady at 60.3. This is great news if you are considering letting your property, as it demonstrates that the local lettings market is very active.
If you’re looking for further information about the lettings market in King’s Lynn and the surrounding area, please feel free to contact us. If you’re thinking of letting or renting property in this area, please don’t hesitate to get in touch. You can call 01553 670179 or email office@myhouseonline.co.uk.
