Large increase in the number of properties to rent

There has been another market survey suggesting a significant rise in the number of homes available to rent.

There were 11.4 per cent more properties available at the end of October than a month earlier, with over 66 per cent of towns and cities recording a growth in the size of the letting market.

Swansea in particular showed over a doubling of the properties available to let at the end of last month according to the survey, from crowdfunding platform Property Partner.

There were also very large increases in Newcastle-upon-Tyne, Sheffield and Leicester – possibly the final effect of the increase in buy to let purchases by investors earlier this year before the introduction of the stamp duty surcharge for additional properties.

By contrast, new rental stock in London was somewhat more subdued.

Buy to let listings fell by three per cent in the capital following a steady increase of 1.4 per cent in September.

Earlier this week Knight Frank warned of a significant increase in the number of prime properties available to rent across the UK.


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Written by: Houseladder