Jessica has worked in Cardiff Bay professional lettings for over five years and brings this experience to the CPS Homes branch. Jessica knows the rental market inside out at Cardiff Bay and comments on her experience of the last couple of years...
"The lettings market has totally turned on its head in the last two years. Once a saturated market dominated by flats, fierce competition and low rental incomes. This coupled with high interest rates, often left landlords with a negative yield and having to subsidise the mortgage shortfall out of their own pocket. The knock on effect were many properties were left empty for long periods, especially those in large blocks where there would often be another twenty to thirty identical available flats.
Roll on two years and the Cardiff Bay market is back on its feet and looking very healthy for investors. There is a serious shortage of properties to rent, meaning agents often have hundreds of prospective tenants on their books with only a handful of properties available. This has resulted in a huge rise in the amount of tenancies being extended for further periods as tenants don't want to risk their chances of finding similar or better property in the market. We have found resigning tenants are up from just under half of all tenancies to now roughly three quarters of tenants choosing to stay in the same property. Now is the time to make the most of the Cardiff Bay market."
Some things you may not know about Jessica...
- Jessica graduated from UWIC University with a Sports Science BSC Hons degree
- Represented Wales in Gymnastics in her younger days
- Is a Swansea born and bred and has had the pleasure of living in Cardiff for the last 12 years
- Enjoys cycling holidays around Europe
Should you have any questions for Jessica about the Cardiff Bay market, call our Cardiff Bay branch on 02920 480 490.