Too Few Properties Available for Rent

ARLA has warned that an undersupply of good quality property is straining the UK rental market to the edge, with supply failing to match demand.

Jim Barber, of JB Property Solutions, said: "In parts of Cheshire and The North West, we have virtually no new properties to offer to an increasing number of tenants”

Jim Added:

"The market seems to be dividing into three kinds of tenant: those on housing benefit, first-time buyers renting instead of purchasing, and long term tenants awaiting an upturn in the market”

According to ARLA, during quarter two of 2011, 74% of members announced that there were more prospective tenants than properties available a figure that jumps to 82% in central London.

In comparison, only 2 years back the number of members reporting an undersupply of rental houses in Great Britain was Ten percent, and 8% in central London.