MenuSearch

Tenant demand remains strong across the UK…

October 29th 2015
By: Melanie Hollidge

According to the NLA, National Landlords association, 40% of landlords are reporting an increase in tenant demand in most areas of the UK within the past three months.
 
The East of England experienced the largest demand, showing a 48% increase in demand for rental properties. This was followed by the South West, who saw a 45% increase, followed by the South East, 41% and London 40%.
 
The report stated that only 6% of landlords reported a decrease in demand over the past quarter. These landlords were based in the North East of the UK, closely follow by 12% in Wales and Yorkshire and 11% in the North West.
 
Carolyn Uphill, Chairman, NLA, said: “These figures demonstrate just how important the private rented sector is in housing a growing number of people. Our research indicates that five per cent of landlords will sell up following the Government’s plans to remove mortgage interest relief for landlords, which could affect some 600,000 tenancies.
 
“The Government’s planned changes, which will be phased over a period of years, gives landlords effected time to review their finances, but some will still be forced to sell or trade at a loss which is unsustainable and the projected impact will mean that ultimately renters will lose out as a dwindling stock drives up prices and competition for homes.”  
 
If you are thinking about investing in a buy to let property why not pop into your local branch of Goodfellows or give us a call on 0845 372 7070.
 
Source: Lettings agent today