Blog

Rental Supply at Highest This Year

RENTAL SUPPLY AT HIGHEST LEVEL THIS YEAR

The number of rental properties on letting agents’ books is at the highest level this year so
far
 
Supply of rental stock available

The number of rental properties on letting agents’ books was 184 in July. This is the highest
number seen so far in 2016 and up five per cent from June, painting a positive picture for
prospective tenants post-Brexit   

However, year on year supply is down. In July 2015, the number of properties letting agents
had registered reached an annual high of 189 – three per cent higher than this year

Demand for rental properties

Demand from prospective tenants for rental accommodation fell slightly, from 37 house-
hunters per branch in June, to 36 in July


Post-Brexit analysis

In July, the majority of agents reported no change to rent prices, supply of properties and
demand from tenants following the Brexit vote. Seven in ten (71 per cent) agents witnessed
no change in rents, and six in ten (62 per cent and 61 per cent respectively) saw no
movement in supply and demand

As in June, last month nearly two fifths (38 per cent) of letting agents saw no sign of market
wobble following Brexit. Where there is uncertainty though, it comes from those looking to
let properties, with 44 per cent agents reporting signs of uncertainty from landlords  
 
David Cox, managing director, Association of Residential Letting Agents, said: “Despite reports that
the housing market is spiralling out of control post-Brexit, our results paint a very different picture,
and indicate that the future is bright for the rental market. Supply is up, as we’d expect at this time of year, and the number of tenants experiencing rent hikes hasn’t changed in three months. While
we obviously need new houses to balance the growing gap between supply and demand, what’s
positive is that the situation isn’t worsening as a direct result of June’s Brexit result.”
 
(Source: ARLA, 2016)
 
1 Opinium Research carried out an online survey among 190 ARLA member branches between 2 nd  August to
11 th  August 2016. ARLA Licensed letting agents were surveyed on a number of key rental sector issues
including supply and demand, the management of BTL properties, and monthly rent prices.
www.opinium.co.uk
 
For further information contact:
ARLA Press Office
Tel: 020 7566 9777
E-mail: propertyprofessionals@lansons.com  
 
About ARLA
ARLA  is  the  UK’s  foremost  professional  and  regulatory  body  for  letting  agents;  representing  over  8,000
members. Our members operate to professional standards far higher than the law demands and we campaign
for greater regulation in this growing and increasingly important sector of the property market. By using an
ARLA Licensed agent, consumers have the peace of mind their agent will provide a professional service and
their money is safeguarded by a Client Money Protection scheme.