18 Jul

Demand and landlord appetite boosting PRS

Demand and landlord appetite boosting PRS

The demand from tenants and the number of buy-to-let owners looking to expand their portfolios are just two of the reasons why the private rented sector is going from strength to strength at the moment.

This is according to Sequence, a lettings specialist which has reported that the volume of tenancies agreed over the last year has increased by 22 per cent as of June. 

It also added that landlords are increasingly becoming more confident about buying, due to the level of demand that exists in the UK from tenants.

The number of applications from current or prospective landlords to get buy-to-let mortgages was 29 per cent higher in June than it was a year ago, while Sequence also reports that it has gone up by 50 per cent in the last 24 months.

Stephen Nation, head of lettings with Sequence, said: "The rental market across the country continues to be a hive of activity, with the number of new tenancies in June up nearly a quarter on last year. Landlords continue to flock to the market keen to take advantage of growing demand, up 17 per cent annually, and attractive mortgage products."

This positivity all comes as rental prices were reported once again this week by HomeLet to have new record highs in the UK.ADNFCR-1222-ID-801614155-ADNFCR

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