UK residential rental home supply rises

uk-rental-propThe supply of homes to rent reaches highest level for 18 months with demand. According to the Association of Residential Letting Agents (ARLA) report, the number of rental properties which are managed by agents has reached over 190 in September, 183 in August and highest was 205 in April. In line with expectations, demand from tenants has been steadily increasing and now it is at the highest level.

David Cox, ARLA managing director says: “This month’s findings paint a really positive picture for renters. Although demand is rising, this is to happen gradually over the course of the year. The supply of rental stock has risen astronomically, which suggests it’s not quite right that landlords are pulling out of the market as a result of Brexit. It is good to see fewer landlords hiking rents this month; the cost of renting is already high in many parts of the country. We won’t see renters reach a position where they’re able to save to get on the housing ladder.”

Leave a reply

Your email address will not be published.

Back to home page