Rental demand still high
Posted on 12th October 2011
The private rental sector could see an overwhelming amount of demand and reach capacity if more properties aren’t put on the market.
The latest report by the Association of Residential Letting Agents (ARLA) indicates that 74% of letting agents believe that demand is outstripping supply. With levels reaching their highest since records began.
Tim Hyatt, ARLA president, commented: "The reality is that there is a finite amount of rental property and unless both housing supply and mortgage availability improves then renters will find that their options in the market are reduced." As the private rental sector continues to see more and more demand, there is a belief that this rental demand will not boost the property market the way it needs to be.
“The Government is doing little to encourage landlords to invest in new properties therefore we are running out of quality stock to offer to tenants. This is reflected in rent increases and a lack of choice for consumers.”