Monday, 2 July 2018

The disappearing homes conundrum

Via @HenryPryor, from Property Industry Eye:

Supply of rental properties has hit its highest level so far this year, but fewer tenants seem to be searching, say letting agents.

The May Private Rented Sector Report from ARLA Propertymark shows that letting agents had an average of 186 properties per branch last month, up from 179 in April and the highest figure for 2018.

However, demand also fell to a new low of an average of 60 prospective tenants per branch, the lowest figure since last December when 59 registrations were recorded.


Bayard said...

Now, with supply up and demand down, then prices (rents) have to fall, it's the law of supply and demand, innit?

I wait with bated breath (not).

Mark Wadsworth said...

B, the article mentions rent rises, but only in terms of what percentage of landlords managed to push them through, and not by how much the overall mix-averaged rent has changed.

mombers said...

Until these clowns explain where the much promised rent rises in retaliation for Section 24 are, they should STFU.
Rent rises for 28% - so what? Rents are one of the least volatile prices there is, they mark slowly upwards, regardless of landlord costs, largely dependent on wages less tax and essential expenditures. Add in the freebie of Housing Benefit to smooth out any remaining volatility and it's a completely captive audience.

Mark Wadsworth said...

B, as we know, the number of homes to rent and the number of tenants will always keep in step.

M, the rent increases because of s24 are in the near future, like nuclear fusion or catastrophic climate change, or actual brexit