There are numerous studies showing that landlords are leaving the sector, but the latest PRS Report from ARLA Propertymark has revealed that not only is the supply of rental properties at it’s highest level so far this year, but the flood of tenants is trailing to a trickle.
This worrying report has highlighted that whilst landlords are sticking with the sector, fewer tenants seem to be searching, with agents reporting an increase of properties, but fewer tenants registering to view them – property registrations are up to an average of 186 per branch from 179 in April, whilst prospective tenants have dropped from 60 to 59.
There’s a chronic supply shortage in the rental market at the moment, and while it’s positive that the number of properties available to rent seems to be rising, this is just a drop in the ocean – it isn’t nearly enough to fix the market for tenants. Competition is getting more and more fierce, and with legislative changes hitting landlords from all sides, the cost of renting is only increasing
David Cox, chief executive of ARLA Propertymark,
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