4 Nov

West Midlands enjoys rent rise

West Midlands enjoys rent rise

The West Midlands rental market has seen a surge in demand according to the latest figures.

Data from the Association of Residential Letting Agents (ARLA) revealed 59 per cent of tenants have seen a rise in rents during September - compared to a national average of 32 per cent.

Demand was also on the up in the North West, with agents in the region registering an average of 40 new people looking for property per branch.

It was a more downbeat picture in Scotland and the East Midlands, where the number of people looking for a rental property remains the lowest in the UK.

"It’s interesting to see how tenants across the country are affected in different ways when it comes to the rental market; each region has its own issues, whether it’s lack of suitable housing, no available housing at all, or over inflated rent prices," said David Cox, ARLA managing director .

He added: "It’s a surprise to see that those renting in the West Midlands are suffering from rent increases the most, when many of us would automatically think tenants in London would be the most prone to rent increases due to the competition in the capital."

However, Mr Cox stressed there will continue to be pressure on the rental market because of the ongoing problem of supply and demand and the inability for many to step on to the property ladder.
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