New rental data from an estate and lettings agent has revealed that Somerset is one of the ‘hottest’ rental markets in England. 

The Rental Demand Index, by estate agent Barrows and Forrester, is a quarterly review which analyses rental demand based on the proportion of total rental market listings that have already had a let agreed. 

Across England, demand has risen by 4.1 per cent since the last quarter, with 39.9 per cent of rental stock being let (compared to 35.7 per cent in the previous quarter). 

This number jumps in the nation’s rental hotspots, with Somerset seeing rental demand of 52.7 per cent. 

Somerset ranked as the tied fifth hottest area for rental demand in England, being beaten by West Sussex, the City of Bristol, Northamptonshire and Bedfordshire, and tying with Hertfordshire. 

Despite ranking in the top ten, Somerset did see a drop in rental demand compared to the previous quarter, falling by 1.4 per cent, but annually figures are on the climb, being one per cent higher than they were this time last year. 

James Forrester, managing director of Barrows and Forrester, commented: “Tenant activity is showing no signs of slowing down, which is reassuring news for the nation’s landlords who should be able to avoid lengthy void periods between tenancies as a result. 

 “What’s striking is demand is stronger outside of London, as properties in south coast areas like West Sussex are being rented out like hotcakes.

 “Clearly a high number of tenants are still prioritising green space and having access to the coast, from which you can draw a number of conclusions. 

 “Tenants could be looking for more value away from major cities in commuter towns, more could be taking advantage of the post-pandemic work from home culture, while older tenants could be moving to areas more suitable for their needs, where they’re better placed to start a family. 

“Regardless of the reasons, it’s encouraging that demand is rebalancing away from the capital and becoming more evenly distributed across England.”