Property available for rent is increasing, says report
The level of supply in the private rental sector is increasing, according to the Association of Residential Letting Agents’ latest quarterly report.
Data from ARLA reveals a boost in the average number of buy-to-let properties managed by the association’s members. There was an increase of almost 10% from 135 properties to 148 properties over the last three months.
ARLA believes the amount of landlords increasing their investment in buy-to-let properties is the factor behind the increase in supply in the private rental sector.
However, consumers still face massive competition for rental property, with 65% of ARLA agents saying there were more would-be tenants than properties available on their books. This figure is down from 68% from last quarter.
This figure can only shrink further if more property is available to rent. The rental market is booming and a regular property supply and responsible landlords can maintain its strength.
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