Rental housing demand at record high

Demand for rental housing is at an all time high according to new research published by the National Residential Landlords Association (NRLA).

In a survey of private landlords across England and Wales, 57% said that demand for homes to rent had increased in Q3 2021 - up from 39% in Q2.

Landlords in the South West reported the greatest increase in demand, however, with 79% saying demand had increased in the third quarter of the year, followed by 74% in the South East (excluding London), 73% in Wales and 71% in the West Midlands.

The figures come after property site Zoopla found a return to urban areas by city workers and students had seen rent prices increase to a 13-year high.

Despite the booming rental market, 19% of landlords plan on reducing the number of properties they let out, while the same proportion plan on increasing their portfolio.

Ben Beadle, chief executive of the NRLA, said:

"As demand picks up following lockdown measures we need a stimulus to support responsible landlords to provide the homes to rent we vitally need.

"Without this it will ultimately be tenants that suffer as a result of less choice, higher rents and the resulting difficulties they will encounter when looking to become homeowners."

Talk to us about your property portfolio.

Bland Baker Blog

Read our latest posts

Publications

Download a copy of our Insider Newsletter or Active Practice Update

21 Lodge Lane
Grays
Essex
RM17 5RY

Tel: 01375 383888
Fax: 01375 391672
E-mail: info@blandbaker.co.uk