City centre living is back on the market as demand returns

The housing market has remained buoyant over the pandemic with housebuilders and estate agents reporting strong demand.

For one sales agent, Zenko Properties that demand has seen a properties being signed for within 24 hours and it reporting a 35% increase in demand for rental properties in Leeds year-on-year and means it is now focused on growth.

Despite Covid-19 and lockdown restrictions driving people to properties with outdoor space and fewer looking for city centre accommodation, Zenko has been proactively working with landlords to reduce their void periods and have even seen investors continuing to look for city centre accomdation.

Zenko’s founding director, Tobias Duczenko, said: “It has been possibly the strangest time for everyone, not least the property market. The city centre became deserted, with many people selling up or moving out of their rental apartments. The reasons were varied – from wanting more outdoor space, needing an office space so they could work from home or simply because they were unable to afford city centre living due to losing a job off the back of the pandemic.

“We’ve continued to market our properties and are now offering deals that should get investors, and the rental sector, moving in the right direction again. We always try to be forward thinking and are prepared for any eventuality so we are delighted to see that the property market is waking up again and things are moving at pace.

“Last week two properties had multiple offers and agreed sales within three days of coming onto the market. The rental market is also seeing similar movement, with a general lack of stock there is an immense amount of interest with properties renting the same day. This has enabled us to increase rental prices by 10% – a quite different scenario to the preceding 12 months in the property market.”

Duczenko’s strategy over the coming months he explained will be about working closely with their clients and has recently appointed Ian Darley MARLA from JLL to the team to oversee the firm’s sister office Knowles Estate Agents, Zenko’s out of city centre sales and lettings team.

Duczenko added: “It’s a very exciting time for the property market, and investors in particular, and we are excited for things to continue going from strength to strength over the coming months. The property market vista has changed and we are adapting to suit it, with ambitious plans for growth. This means we are perfectly positioned to support any investors or agents who may be looking to sell some of their portfolio.”