Rental Housing Supply hits Record Low

HAMISH_MCTAVISH

Rental housing supply hits all-time-low

Market bucking seasonal trend

The dearth in available rental properties is worsening, according to research out today from
the Association of Residential Lettings Agents (ARLA).

Almost three quarters (70 per cent) of ARLA member offices say that there are more tenants than available properties. This is an increase from 59 per cent last quarter and 24 per cent in September 2009.

The situation is particularly pertinent in the South East, where 76 per cent of member offices report more tenants than properties.

Ian Potter, operations manager of ARLA, said: “The spring period would usually see a rise in rental properties coming onto the market, and although there is some evidence of landlords considering selling up, it is not enough to counteract the change in supply.

“This situation has been deteriorating rapidly in recent months, as the supply and demand of homes to buy is also swinging out of kilter – making the prospect of a severe rental housing shortage ever more likely.

http://www.arla.co.uk/events/news_details.aspx?id=142

Rental supply is at an all time record low, with prospective tenants exceeding available properties in 70% of areas.

And with housebuilding also at record lows, and population still increasing rapidly, the shortage can only get worse.

Still, at least now we know why landlords don't seem to be remotely worried about the upcoming benefit cuts.:cool:

HAMISH_MCTAVISH

And unsurprisingly, rents are rising too.

Up one percent last month alone.

http://www.mortgagesolutions-online.com/mortgage-solutions/news/1722990/rising-rents-return-2008-levels

ruggedtoast

HAMISH_MCTAVISH wrote: »

http://www.arla.co.uk/events/news_details.aspx?id=142


Still, at least now we know why landlords don't seem to be remotely worried about the upcoming benefit cuts.:cool:

If you're not "remotely worried" why do you bang on about it in every other post of every thread you create?

NEH

Well i confirm that...

We're renting in Scotland and there is a desperate shortage here of properties. Compared to a year ago when we moved rents have rockted. We're having to move again due to landlord's loan being called in and we're having to find an extra £150-£200 a month compared to last year to find a 3 or 4 bed...Lady next door who is also being evicted is having to come up with a minimum of £200 as she has to stay in the area due to the children being in school.

Graham_Devon

HAMISH_MCTAVISH wrote: »

Rental supply is at an all time record low, with prospective tenants exceeding available properties in 70% of areas.

That's what happens when you figure out renitng out properties isn't as good as it used to be and less people are entering the game, and more getting out

HAMISH_MCTAVISH

NEH wrote: »

Well i confirm that...

We're renting in Scotland and there is a desperate shortage here of properties. Compared to a year ago when we moved rents have rocketed.

Interestingly, in Scotland, the latest RICS report indicates supply of housing for sale is also starting to tighten.

Less houses for sale, less houses to rent, gosh, you'd almost think there was a housing shortage......:D

arby

would you? negative equity or fear of jobs would also stop people from putting there homes on the market wouldn't it?

the_flying_pig

Jeez, Hamish, that second property of yours is a veritable, er, I'm struggling to find the proper words, goldmine, cash cow, meal ticket, golden egg-laying goose... you are a lucky, lucky man.

But it's not nice to gloat so much eh?

FATBALLZ

"more tenants than available properties"

er yeah that'll be because commonly more than one tenant lives in a single property- says a lot about the areas that have more properties than tenants too. This article is not dubious in the least.

HAMISH_MCTAVISH

the_flying_pig wrote: »

I'm struggling to find the proper words, goldmine, cash cow, meal ticket, golden egg-laying goose...

I prefer to think of it as a Haggis and Whisky fund.....

Graham_Devon

HAMISH_MCTAVISH wrote: »

Interestingly, in Scotland, the latest RICS report indicates supply of housing for sale is also starting to tighten.

Less houses for sale, less houses to rent, gosh, you'd almost think there was a housing shortage......:D

Why are you so scared of getting on the boat hamish? You sqeal like a pig about how good it all is. Laugh at those who cannot afford to get on it.

But you yourself CAN afford it, if we are to believe your posts, but decide to join those you laugh at, and miss each and every opportunity....

I really don't get it.