Furnished vs unfurnished properties

Furnished properties by number of bedrooms

Of all the rental properties managed by Barfoot & Thompson, only 6% are furnished.

Generally speaking, the more bedrooms a rental property has, the less likely it is to be furnished (studios have been excluded from this study). 

One-bedroom properties are the most likely to be furnished, as they tend to be popular with students and travellers on limited visas, and tenants requiring shorter-term lets. More than a quarter of one-bedroom properties managed by Barfoot & Thompson are furnished.

Average weekly rent per number of bedrooms

The value of furnishing a rental property depends on the type of tenants who will be looking to live in it - families, students, young professionals etc.

Four-bedroom houses have very little extra value in being furnished, with only a 2% increase in rent. 

While the percentage increase for five bedroom properties is high when furnished, there are very few properties of this size available, which could be why there is such a significant difference.

Average lease duration for furnished vs unfurnished properties

The average lease duration is less for furnished properties, so there is higher turnover.