Further to the week’s earlier reports of a certain amount of stability returning to the property market, there is a knock-on effect from this which will please a lot of professional landlords. The Telegraph had an article last week on the fact that this improvement in the state of the property market is causing there to be fewer new properties being made available for rent.
The Telegraph quotes figures of 62, 765 in April, falling to 34 088 in May. A drop of nearly half! Not surprisingly they are attributing this drop to fewer accidental landlords being created. In other words fewer people are choosing to hold onto their homes and rent them out rather than sell them. A situation that was created by the diabolical drop in housing prices.
Jonathan Moore, UK and Ireland country manager of EasyRoommate.com, said: “What we’re hopefully seeing is a semblance of normality returning to the rental market as many home owners who saw rental as a last chance saloon are now more confident that they can find a buyer if they put their properties back on the market.
“In the second half of this year we would expect to see depressed average rental prices start to rise as the supply-demand balance begins to level out.”
Let’s hope he is right and we can start to get back to normal. Being a professional landlord is never an easy job but a return to a stabile environment will ease things a bit and take away the extra stress a lot of us have been under.
