16th
Sep 2015
According to an association of private rental lettings agents, the number of private renting properties had increased from June to July this year.
Their members have on their books 189 private rental accommodations per branch available for renting, whereas in June the average number was 178.
Lettings agents are also seeing a slight reduction of prospective tenants per branch down from 36 to 35.
Almost one in three letting agent members believes that there will be a steady increase of private rented stock over the next five years.
The Managing Director of the association said:
“Following the changes to pensions made in April, the fact that a third of agents are predicting supply will continue to increase over the next five years could be a result of people releasing equity from their pensions to invest in the buy-to-let market,
“It’s clear from this month’s findings that the growing gap between supply and demand is an issue still rife in the capital; which doesn’t look to be improving any time soon.
“With the cost of renting continuing to rise month by month, it’s a worrying state of affairs for those hoping to save for their first house and just pushing the aspiration of owning a home further out of reach.”
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