UK rental property market surging as lack of supply pushes up prices

Published by Property Community
by Ray Clancy on Tuesday, 05 October 2010
 
A surge in demand for rented property over the summer in the UK has outstripped rental supply, new research shows.

Tenant registrations soared over July and August, finishing 47% up on May and the number of potential renters in August was up 14% on last year, according to Winkworth’s latest quarterly review analysing trends and the outlook for the UK residential property sales and lettings markets.

In contrast, the number of rental properties on the market in August was over 50% lower than a year ago. Dominic Agace, chief executive officer of Winkworth, said that this shortfall in supply has pushed up rents.

‘Rentals have seen price increases following a shortfall in investment in the sector by private landlords due to the suspension of buy to let mortgage products over the last two years and the selling off of accidental landlord properties.

While there has been …


Tags: demand, increase, price, property, rentals, rented, supply

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