A property investor saw the article I wrote back in June regarding the rise in Tameside’s rental sector by 10%. With this being an average across the borough, and the investor already owning a property in Dukinfield, we had a discussion regarding Dukinfield’s contribution to this rise.
As I mentioned in that article and a more recent one regarding Denton, younger homeowners in Tameside are either struggling or not confident enough to step onto the property ladder. Their turn in direction to the rental sector is increasing the demand needed for rental properties in the borough, as well as Dukinfield.
After conducting some research (which as you may well know, I’m all too happy to share here on my blog), I found the average rent in Dukinfield to be £534pcm, a 6% increase from 12 months ago.
As you can see from my findings, the increasing demand for rental properties in the town have caused the surge in rental figures over recent months, with a spike of 7% change back in May. Whilst this appears to be a settling figure for now, my experience within Dukinfield’s rental market suggests that the figures in Dukinfield aren’t going to drop anytime soon.
To further understand the impact of younger generations turning to the rental sector, I took a look at the percentage of each generation in Dukinfield’s rental market, as well as which property type is let the most:
43.8% of Dukinfield tenants are aged between 18 and 29 (a lower figure compared to the average of 53.4% for the North West), whilst 66.7% of Dukinfield rental properties are terraced houses.
So as I was able to advise my property investor, it’s clear that the main demand in Dukinfield’s rental sector lies in terrace properties for 18-29 year olds.
If you’re looking to invest in Tameside’s rental sector and want more details on rental figures across each of the towns within the borough, or what would make a great buy-to-let deal, feel free to give me a call. I’m always happy to discuss over the phone or in person over a coffee (or two!).