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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Neil is the Operations Director at Assetgrove Lettings, London's Leading Rent Guarantee Company, providing Landlords with no voids, property maintenance, fee-free property management and stress-free service.
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