The demand for rental properties has increased by 15% in Q2 of 2011, compared the same period last year.
Research has found that there is an increase in properties available for lettings London wide and across the country but demand continues to outstrip supply in many locations with on average five tenants competing for each property.
Letting agents London wide are also reporting that properties are being let within 12 days of coming onto the market. This is 4 days earlier than the same period last year and lower than the UK average which is 13.3 days.
The size of properties available across the country varies, with half of all properties available in the North West having 3 bedrooms or more, compared to 28% a year ago. However, London letting agents are not reporting any changes as there are still the same percentage of 3+ bedroom homes on the market in the capital.
The increase in properties is thought to be partially due to the number of so called “reluctant landlords” – homeowners who find they are unable to sell their home so choose to rent it out, and this also explains the significant number of larger family homes becoming available in some areas.
Contact Details
Name: Benham and Reeves Lettings
Company Name: Benham and Reeves Lettings
Telephone Number: .020 7433 6670
Email: [email protected]
Contact Information
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Hampstead,
Nebraska, 85028
United States