28 Jun

Decline in rental properties on offer

Decline in rental properties on offer

There has been a significant decline in the number of properties available to rent across the UK.

Research shows the last six years have seen a steady decrease in the availability of rental homes, with a national fall of 11.6 per cent.

The largest decline was recorded in Scotland, according to the report from Home.co.uk. South of the border saw a 34.7 per cent fall in the number of properties available over the past six months.

Wales also saw a decline of 28.1 per cent - making it increasingly harder for renters to fit suitable properties.

Only one area of the country showed an increase in supply, with the North East seeing a rise of 33.4 per cent in available property.

Home.co.uk director Doug Shephard expressed concern that the increase in red tape and taxation faced by landlords means the supply of rental properties has been hit - with rents increasing as a result.

He added: "Record low mortgage interest rates have driven unprecedented investment in the private rented sector over recent years. Simply put, those already with significant home equity have been able to come up with deposits for properties intended to let whilst aspiring home owners are as cash strapped as ever as they pay out huge sums in rent.

"However, ultra-low interest rates and the associated pain for renters look set to persist for the foreseeable future."ADNFCR-1222-ID-801837309-ADNFCR

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