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Private landlords report ‘record’ demand for properties

NRLA latest quarterly poll of members reveals extraordinary jump in demand from tenants as the rental market market has revived.

Nigel Lewis

landlords

Landlords have reported that demand for rental housing is at an all-time high.

This follows the NRLA’s regular quarterly poll of private landlords, which revealed that 57 per cent confirmed that demand for homes to rent had increased in the third quarter of 2021 – up from 39 per cent in the second quarter of the year.

The organisation says this jump means demand for rented homes is now at a ‘record high’ and that the figures also reveal signs of recovering within the London market, where there has been a ‘significant uptick’ in demand.

Such an uptick is much needed – many areas of London’s private rental market are still struggling after months of Covid-induced semi-paralysis after thousands of young tenants abandoned the capital.

Demand increasing

Just over two-thirds of landlords operating in outer London reported demand having increased, up from 25 per cent in the third quarter of 2020.

In central London, 54 per cent reported increased demand, up from 16 per cent at the same time last year.

The NRLA figures follow a recent warning from the Royal Institution of Chartered Surveyors of rents increasing as a result of the “mismatch between supply and demand.”

Ben Beadle TDS Northern IrelandBen Beadle (pictured), Chief Executive of the NRLA, says: “As demand picks up following lockdown measures we need a stimulus to support responsible landlords to provide the homes to rent we vitally need.

“Without this, it will ultimately be tenants that suffer as a result of less choice, higher rents and the resulting difficulties they will encounter when looking to become homeowners.”

Read more: where all the landlords live in the UK.

November 29, 2021

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