Rental demand higher since June

Ryan Bembridge

September 29, 2016

row of houses2

Rental demand has been higher since June and surpasses the corresponding period last year, the Association of Residential Lettings Agents’ August Private Rental Sector report has found.

From June to August the number of prospective tenants per branch was between 36 and 37 after being as low as 31 in January.

From June to August the number of registered tenants was higher than the corresponding months in 2015.

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David Cox, managing director of ARLA, said: “Although Brexit painted a temporary picture of uncertainty for tenants and landlords, our findings show that the market remains in good shape.

“We’re not seeing anything across supply or demand that is out of the ordinary, and while demand is at high levels, this is being matched with a decent volume of properties on the rental market. What’s good is that more tenants are managing to successfully negotiate rent reductions, and that agents and landlords seem to be responding well to this.

“The rising cost of renting, especially in major cities such as London, is an ongoing issue in both the buying and lettings market so it’s promising to see small steps towards better affordability for renters.”