9
Jun
Demand for rental properties remains at record high
New research has shown that demand for rental property continues to
hover at record highs as people put their house-buying plans on
hold.
Over the past three months the proportion of letting agents
reporting that demand for rental properties is outstripping supply
has remained at a historic high of 39 per cent, according to the
Association of Residential Letting Agents (Arla).
The phenomenon is most prevalent in London and the south-east,
according to the organisation.
It found that despite high levels of demand, the average rents
charged fell by seven per cent for houses and nine per cent for
flats in the same period.
Ian Potter, head of operations at Arla, suggested that in many
areas falls in rental prices have "had a positive effect as it has
allowed the rental market to provide stability in housing at a time
of volatility in the sales market".
Last month aboutproperty.co.uk warned that the UK lettings market
is moving so quickly that potential tenants will have only minutes
to secure a property, or risk being gazumped.
