{"id":716,"date":"2015-08-23T00:00:00","date_gmt":"2015-08-23T00:00:00","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/rental-demand-soars-to-record-levels\/"},"modified":"2016-09-08T15:17:41","modified_gmt":"2016-09-08T15:17:41","slug":"rental-demand-soars-to-record-levels","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/rental-demand-soars-to-record-levels\/","title":{"rendered":"Rental Demand Soars to Record Levels"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<div><span style=\"font-family: Verdana; font-size: 10pt;\"><br \/>\nAre you looking for a <a href=\"https:\/\/www.thehouseshop.com\/property-to-rent\" title=\"property to rent\">property to rent<\/a>?\u00a0 Or, are you a landlord searching for tenants?<\/span><\/div>\n<div>\n<span style=\"font-family: Verdana; font-size: 10pt;\">The summer is not the traditional time of year for rental demand to increase.\u00a0 However, the UK&#8217;s largest lettings agent has this week reported that the number of tenants searching for rental property has risen to a record level.<\/span><\/div>\n<div>\n<span style=\"font-family: Verdana; font-size: 10pt;\"><strong>Record demand<\/strong><br \/>\n<span style=\"font-family: Verdana; font-size: 10pt;\">Over 50,000 people registered with Countrywide during the second quarter of 2010.\u00a0 This is the highest figure ever recorded since the company started monitoring the data, was back in 2003.\u00a0 Not only are more people looking for rental accommodation, but the number of properties available to <a href=\"https:\/\/www.thehouseshop.com\/property-to-rent\">rent <\/a>has also fallen.<\/span><\/span><\/div>\n<div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\">June was a record month, with over 18,000 new tenants registering with the company &#8211; a 22 per cent increase over May&#8217;s figures.\u00a0 However, the number of landlords looking to rent out property fell by 6 percent during the three months to June.\u00a0 This means that there are now 5.5 tenants for every available property, up from 4.9 tenants in early 2010.<\/span><\/span><\/div>\n<div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\">John Hards, co-managing director of Countrywide Residential Lettings, told The Daily Telegraph: &#8220;The number of tenants entering the market is at unprecedented levels, and we have yet to enter the peak season.\u00a0 Student demand for private rental accommodation will increase further with university applications at record levels.&#8221;<\/span><\/span><\/span><\/div>\n<div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\">The problems is worst in the South West, with an average of over 23 potential tenants looking to rent each 2 bedroom property that comes to the market.<\/span><\/span><\/span><\/span><\/div>\n<div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><strong>Rents staying steady<\/strong><br \/>\n<span style=\"font-family: Verdana; font-size: 10pt;\">Whilst the demand for rental property may be at an all time high, there has not been a significant rise in rents, which is good news for tenants.\u00a0 Countrywide reports that there has only been a &#8216;marginal&#8217; increase in the level of rents across the UK.<\/span><\/span><\/span><\/span><\/span><\/span><\/div>\n<div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\">Mr Hinds continued, &#8220;The buy-to-let sector remains a good source of investment, however, the Government needs to do more to incentivise new landlords in order to appease the current shortage of properties.\u00a0 If tenant levels continue to rise at the same rate, this will be further exacerbated.&#8221;<\/span> <\/span><\/span><\/span><\/span><\/span><\/p>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\">\u00a0<\/span><\/span><\/span><\/span><\/span><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Are you looking for a property to rent?\u00a0 Or, are you a landlord searching for tenants? The summer is not the traditional time of year for rental demand to increase.\u00a0 However, the UK&#8217;s largest lettings agent has this week reported<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/rental-demand-soars-to-record-levels\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/rental_demand_soars_to_record_levels","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/716"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=716"}],"version-history":[{"count":3,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/716\/revisions"}],"predecessor-version":[{"id":8307,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/716\/revisions\/8307"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=716"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}