‘The Filaments Build to Rent development, Chapel Street, Salford’
Salford has been named the 7th most competitive rental market in the UK, with an average of 47 enquiries for each available property, according to Rightmove’s latest Demand Tracker. This high demand is largely fuelled by the presence of major institutions such as the University of Salford and Salford Royal Hospital, which consistently attract students, healthcare professionals, and support staff seeking accommodation.
The strong demand for rental properties in Salford mirrors the broader national trend, where, despite a 16% decrease in tenant numbers compared to last year, the market remains significantly busier than pre-pandemic levels. At the same time, the number of properties available to rent has increased by 8% but supply still lags behind demand. This imbalance contributes to rising rental prices, with average advertised rents outside London now at a record £1,349 per month, a 5% increase from last year.
Manchester, Salford’s neighbouring city, is also experiencing similar market pressures. Both cities are seeing rental demand remain high due to their economic growth and vibrant cultural scenes, making it challenging for prospective tenants to secure properties. Despite the slight easing in the market, the need for more rental housing remains critical.
For landlords and property investors, the consistent demand generated by the University of Salford and Salford Royal Hospital presents an opportunity to secure long-term, reliable tenants. If you own or are considering purchasing rental property in Salford, now is the time to capitalise on this sustained interest.
Contact us today to learn more about maximising your rental investments in this active market.