The Northwood network has gone from strength to strength since the onset of recession in 2008
With an increasing number of homeowners unable to sell and potential first-time buyers struggling to get out of rented accommodation, the recession may have hit the housing market hard, but in doing so has opened the doors to a booming lettings sector.
Property franchise Northwood has been at the coalface of the substantial increase in the number of people renting from private landlords, a figure that has been predicted to reach 20 per cent of all households by 2016, up from 15 per cent today. As a result, the national Northwood network of 76 offices has gone from strength to strength since the onset of recession in 2008
Reluctant
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More and more people who set out to sell their property are having to resort to letting it out instead when they are unable to find a buyer. This new generation of ‘reluctant landlords’ has been quick to take advantage of Northwood’s Platinum Guaranteed Rental Income Scheme, which effectively takes away all the risk associated with letting a property.
The Platinum Scheme has been Northwood’s unique selling point since it became a franchise more than 15 years ago. Never before has the option to have a fully managed property and be guaranteed rent every month, regardless of whether or not a tenant has paid, been so popular as the number of reluctant landlords continues to grow.
And what’s more, this increase in rentable properties has been outstripped by a rise in demand. According to recent reports, since 2009 an average of just 40,000 households a year have joined the property ladder, less than a third of the figure seen for the 10 years previous.
To maximise the potential of this expanding market, Northwood has invested in a strategic TV advertising campaign reaching in excess of 11 million people. The 30-second advert is being broadcast across three ITV regions and is already driving significant new business to the Northwood network.
