Demand for rental property rose again during the summer, according to a recent survey of UK letting agents. In August, letting agents registered an average 37 prospective tenants per branch.
In Evesham, Pershore and the Cotswolds, the Johnsons team experienced another record month, moving new tenants into a home every two days, on average.
The private rented sector report by ARLA also suggests that the outlook for the rental market remains positive, despite the recent Brexit vote. Many agents reported during the summer that they had seen signs of uncertainty from those looking to rent or let out property. However, this appears to have had very little impact on the rental market.
David Cox, Managing Director, Association of Residential Letting Agents (ARLA) commented that “Although Brexit painted a temporary picture of uncertainty for tenants and landlords, our findings show that the market remains in good shape. We’re not seeing anything across supply or demand that is out of the ordinary, and while demand is at high levels, this is being matched with a decent volume of properties on the rental market.”
Source: ARLA (August 2016) Private Rented Sector Report