30th
May 2024
Over 80 per cent of landlords are experiencing extremely high levels of tenant demand according to the latest research from a lender.
The survey undertaken by research agency Pegasus Insight as part of the lender’s PRS Trends report polled nearly 800 landlords in finding out levels of tenant demand during Q1.
The results of the feedback showed that 43 per cent of the landlords said tenant demand as “very strong,” 40 per cent said it was “quite strong.” Just 1 per cent of the respondents said they had “weak” tenant demand, whilst 12 per cent said it was “average.”
The lender’s study also drew attention to regional differences in tenant demand across England and Wales.
The South West had the highest renter demand - 54 per cent of landlords saying it was ‘very strong’ - 30 per cent saying ‘quite strong’.
The North East - 51 per cent reported demand to be ‘very strong’, with 36 per cent saying it was ‘strong’.
Yorkshire and Humberside had the lowest levels of demand with 31 per cent saying it was ‘very strong’ and 49 per cent of landlords saying it was ‘quite strong’.
The lender’s spokesperson, said: “Although recent reports have pointed to an improvement in stock levels within the private rented sector, this research is evidence that investment in rented homes is still very much needed as demand still outweighs supply.
“Making more homes available for tenants provides them with greater choice and is one of the most effective ways of keeping rental inflation at affordable levels.
The spokesperson adds: “We can only see tenant demand levels growing, fuelled by forecast population growth and household formation over the next decade. Rental housing supply needs to keep pace to ensure those who want or need to rent a home have a choice of property at a reasonable price.”
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