1 Sep

ARLA: Increase in available private rentals

ARLA: Increase in available private rentals

New figures from the Association of Residential Letting Agents (ARLA) show there has been an increase in the number of private rental properties coming to the market.

During July, agents managed a total of 189 properties, compared to 178 in the previous month.

However, the monthly report also showed a dip in demand for rental homes, with an average of 35 wannabe tenants registered with ARLA branches, compared to 36 in June.

It is expected this fall is due to the unusual quiet summer months and is showing a better balance of supply and demand.

However, interest in rental properties within the capital continues to increase, with London branches reporting a rise from 35 prospective tenants to 40 registered property searchers.

Many ARLA agents are expecting supply of rental properties to continue to increase over the next five years, with those based in the East of England the most optimistic, compared to those in Yorkshire and Humberside who are less certain about a rise in supply.
"To finally see a rise in available rental properties is definitely a step in the right direction; although with demand remaining the same, we still have a long way to go in achieving a balanced and stable private rented sector," explained David Cox, ARLA managing director.

"Following the changes to pensions made in April, the fact that a third of agents are predicting supply will continue to increase over the next five years could be a result of people releasing equity from their pensions to invest in the buy-to let market."ADNFCR-1222-ID-801799314-ADNFCR

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