It is official. Tenant demand for rental properties is at a new high across Britain -according to reliable figures.
There was an increase of 61 thousand applicants so far this year. The rise in demand between the second and third quarters was 19%. Overall the rise for the year stands at 44%.
This is pretty impressive stuff and does indeed back up all the speculation of the last few months.
The other thing confirmed is the lack of supply to match this unprecedented demand. While demand grows the availability of rental properties shrunk by 6.9 % over the same period. The shocking truth about this is that there are now five times as many people wanting a property to rent in Britain as there are properties available.
That is a very sad statistic if you are looking for a roof over your family’s head.
And while it is easy to have sympathy for those poor house hunters it is hard to be very sympathetic towards the powers that be who had been warned that this time was approaching.
They were warned that over regulating the BTL industry or threatening to would drive landlords a way at time when the country was about to desperately need them.
It will be interesting to see what happens to their big plans for intrusive regulation as the reality of this situation dawns on them.
It is official. Tenant demand for rental properties is at a new high across Britain -according to reliable figures.
There was an increase of 61 thousand applicants so far this year. The rise in demand between the second and third quarters was 19%. Overall the rise for the year stands at 44%.
This is pretty impressive stuff and does indeed back up all the speculation of the last few months.
The other thing confirmed is the lack of supply to match this unprecedented demand. While demand grows the availability of rental properties shrunk by 6.9 % over the same period. The shocking truth about this is that there are now five times as many people wanting a property to rent in Britain as there are properties available.
That is a very sad statistic if you are looking for a roof over your family’s head.
And while it is easy to have sympathy for those poor house hunters it is hard to be very sympathetic towards the powers that be who had been warned that this time was approaching.
They were warned that over regulating the BTL industry or threatening to would drive landlords a way at time when the country was about to desperately need them.
It will be interesting to see what happens to their big plans for intrusive regulation as the reality of this situation dawns on them.
