Rental properties up 42 per cent in three years
The number of properties to let has increased by 13 per cent in the third quarter of the year and by 42 per cent in the last three years, according to the latest Quarterly Property Index from Experian.
Meanwhile properties for sale have increased by 7 per cent and 10 per cent for the same periods respectively.
The figures suggest landlords are reacting to calls from tenants as supply continues to fall short of demand. However could this increasing number of rental properties lead to a saturated market? Rob Denman, Head of GW LET, doesn’t think so:
“With landlords looking to capitalise on the sustained demand for rented properties, these figures come as no real surprise and, given that void periods are at their lowest level in a year, this suggests the demand remains a constant.
“Only a third of landlords have had a property vacate for more than three months. This is an annual decrease of 13 per cent.
“Landlords however may wish to proceed with caution until we start to see the impact of the latest phase of the Government’s Help to Buy scheme which, if it meets its aim, will start to turn tenants into owners.”
Content correct at time of publication