Lack of private rental property, says ARLA
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The amount of available rental properties is decreasing, according to the Association of Residential Lettings Agents.
A total of 70% of ARLA members say there are more tenants than available properties increasing from 59% on last quarter and 24% in September 2009.
in the South East over three-quarters of members are reporting more tenants than properties.
Ian Potter, operations manager of ARLA, criticises the chancellor of the exchequer and the Budget as doing little to help the private rented sector.
He says: “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.”
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