Landlords flood market with rental properties

Massive increase in properties for rent in April

After a record number of properties bought in March to beat the increase in stamp duty cost introduced in April, their have been a large increase of 11.%% for properties for rent listed on Rightmove.

82% of places in the UK have seen the number of properties up for rent increase.

However many landlords may take some time to renovate their newly-acquired houses, before offering them for rent.
“Some landlords might want to do up their properties – such as getting the painters in, or installing a new kitchen – so there may be a delay,” said Richard Donnell from the property website Hometrack.

“However, over the next one or two months, a reasonable slug of these properties will come on the market.”

Increase in listings of properties for rent April to March 2016

Worcester 48.9%
Chelmsford 38%
Stevenage 36.4%
Southport 34.4%
Telford 32.3%
Cheltenham 30.3%
Watford 29.4%
Bath 29.3%
Newport Wales 27%
Woking 26.8%

Written by: Houseladder