24 Oct

UK rental supply on the up

UK rental supply on the up

The supply of residential rental homes has reached its highest level in 18 months, according to new report.

Demand for such properties has also increased in the monthly figures from the Association of Residential Letting Agents (ARLA).

Each branch saw an average 193 properties managed in September, compared to 183 in August - the highest level since April 2015.

Alongside, there are now 40 prospective tenants registering with each letting agent - up from 37 in the previous month.

"This month’s findings paint a really positive picture for renters. Although demand is rising, we’ve seen this happen gradually over the course of the year, and would expect it to slow again in line with seasonal trends over the next few months,’ said David Cox, ARLA managing director.

"On the other hand, the supply of rental stock has risen astronomically, which suggest it’s not quite right that landlords are pulling out of the market as a result of Brexit."

He added there has been a drop in the number of landlords increasing rents, although there is still an upward trend in the cost of renting, which may be causing problems for those hoping to save a deposit to purchase their own home.ADNFCR-1222-ID-801827561-ADNFCR

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