Research shows just how buoyant the UK lettings market is - Nova
downArrow

Rents in Britain have stayed broadly flat over the last year but overall the lettings market is highly active with viewings up 13.3% year on year and lease signings up 3.5%, new research shows.

However, at the same time, supply has fallen by 6.9%, according to the quarterly analysis from estate agents software platform Reapit and residential property market intelligence consultancy Dataloft.

It combines data from a representative sample of lettings agency branches across the UK. The report uses previously unreleased data on property viewings, as well as other demand signals coming from the rental market.

It predicts that there will be a further tightening of supply in the near term and says that this could drive a rise in rental prices over the coming year.

It also points out that the withdrawal of landlord mortgage tax relief is encouraging landlords to sell and adding to supply issues. The tax relief cut, which was announced in 2015, only took effect this year.

‘There are strong market indications that upwards of 10% of landlords are actively considering selling their properties. Multiple vendors have reported similar information, and we are actively tracking this phenomenon,’ said Gary Barker, chief executive officer of Reapit.

‘Our research has uncovered an imminent supply side squeeze in the rental market. As rental inventory dries up, it’s inevitable that rental prices will increase. Landlords deciding to sell their properties will further squeeze the supply side of the rental market. There are simply not enough properties to meet demand,’ he explained.

Nova News

Updates on The Property Market in The New Year
Updates on The Property Market in The New Year
by Saeid Ansari
read more
BT Relocating to Birmingham
BT Relocating to Birmingham
by Saeid Ansari
read more
Where in the UK Had the Highest House Price Growth in 2019?
Where in the UK Had the Highest House Price Growth in 2019?
by Saeid Ansari
read more
Private Renters Set to Outnumber Homeowners By 2039
Private Renters Set to Outnumber Homeowners By 2039
by Saeid Ansari
read more
Increase in Demand of PRS investments in the U.K
Increase in Demand of PRS investments in the U.K
by Saeid Ansari
read more
Want to be the first to know what’s going on in the world of property investment? Subscribe to our newsletter below.
The property pension plan book icon

Take Control Of Your Future With Buy To Let Investment, get The Property Pension Plan for Free!

Find Out More
Get in Touch

Book a complimentary property and/or finance consultation

back-to-top