Rental property facing supply and demand battle
30 July 2010
The Association of Residential Lettings Agents (ARLA) has announced that 70% of their members have reported more tenants than available properties in the second quarter of 2010.
This is an increase from the 59% figure seen in the first quarter and makes the prospect of a serious rental property shortage all the more likely. The outlook is bleakest in the South East, where 76% of ARLA members said that there were more tenants than properties.
Ian Potter, ARLA Operations Manager, commented: “The spring period would usually see a rise in rental properties coming onto the market, and although there is some evidence of landlords considering selling up, it is not enough to counteract the change in supply.”
To add to this overstock of supply 18% of member offices believe that there is an increase in rental property on the market, due to its inability to sell. 76% of landlords believe that they will hold on to their stock over the next year.
Source: Property Wire
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