Rental housing demand at record high

Demand for rental housing is at an all time high according to new research published by the National Residential Landlords Association (NRLA).

In a survey of private landlords across England and Wales, 57% said that demand for homes to rent had increased in Q3 2021 - up from 39% in Q2.

Landlords in the South West reported the greatest increase in demand, however, with 79% saying demand had increased in the third quarter of the year, followed by 74% in the South East (excluding London), 73% in Wales and 71% in the West Midlands.

The figures come after property site Zoopla found a return to urban areas by city workers and students had seen rent prices increase to a 13-year high.

Despite the booming rental market, 19% of landlords plan on reducing the number of properties they let out, while the same proportion plan on increasing their portfolio.

Ben Beadle, chief executive of the NRLA, said:

"As demand picks up following lockdown measures we need a stimulus to support responsible landlords to provide the homes to rent we vitally need.

"Without this it will ultimately be tenants that suffer as a result of less choice, higher rents and the resulting difficulties they will encounter when looking to become homeowners."

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