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Strong demand' for homes to rent
The rental property market remains buoyant in the face of rising mortgage costs with lenders call for larger deposits put new buyers off, a report claimed
The Association of Residential Lettings Agents (Arla) say 39% more agents have reported that demand had outstripped supply in the last three months.
Greater London the South East saw the biggest imbalance.
The Aria report,that with the increase in the number of new two-bedroom flats coming onto the market has lead to a fall in rents. The Arla research, based on responses from 444 letting agents, showed a fall in the average length of time that a property remained empty between tenants, dropping from 24 days to 22 during the last three months. It also found that 77% of landlords said they were not planning to either buy or sell properties in the near future.
