While Peterborough has a lot to offer in the local area, it is helpful for landlords to know the extent of tenants looking for property there. You might not spend a lot of time thinking about it, but there is a growing feeling that Peterborough is a fantastic rental location for people working in the heart of London.
Many homebuyers have looked for homes in Peterborough while commuting in the capital, which isn’t a shock when you consider the cost of buying a home in central London, and even Greater London! As the cost of renting in London rises, locations such as Peterborough become far more appealing to tenants, which means they are far more attractive to landlords.
A new study by a leading name in the property market suggests Peterborough is one of the most affordable locations to rent a property within one hour of a mainline railway station in the capital.
Peterborough offers an affordable option to renting in the capital
London rent has recently reached £2,055 per month, which represents a 15% rise on the figure this time last year, according to Goodlord figures.
Going by average rental figures provided by the home website, Peterborough tenants pay an average of £1,113 per calendar month, which is a significant saving on the amount tenants in the capital pay.
You also have the benefit of commuting to King’s Cross/St Pancras at 51 minutes, which compares well to many travel times within the capital.
Peterborough ranked well compared to locations like Bedford and Arlesey, but for many reasons, Peterborough is an excellent place for tenants to live and for landlords to invest.
We know the Peterborough rental market well
If you are looking for a rental opportunity, we are Peterborough letting specialists with a strong track record in connecting tenants and landlords. We are more than happy to discuss your options. Whether you need assistance in finding and vetting tenants, scouting areas and managing rental accommodation, we can assist you.
Tom Mundy, a well-quoted name in the property and rental market said; “As inflation hits a 40-year high, we’re seeing more tenants impacted by higher rents. Couple this with the lack of rental stock currently available and it’s fair to say that trying to find a rental property, within a specified budget, is proving extremely difficult right now. Since Covid-19 a record number of Londoners have left the capital, but many are still commuting into central stations multiple times a week. For many of these renters, even finding affordable accommodation within one hour of London can be difficult, but there are options available for renters looking to get the most for their money.”
Just Lets – Here to Help
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
The team at Just Lets Peterborough continue to operate remotely to ensure we can continue to serve you and your tenants throughout this covid period and beyond. Please contact us through our usual channels – email us at peterborough@justlets.com or call us today on 01733 346255.
