Rental market update: Tenants continue to outweigh stock levels π
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Latest report from Propertymark shows:
πΈ An alarming disparity in the number of homes available to rent when compared with growing demand from prospective tenants
πΈ The number of new prospective tenants registered per member branch showed a sizable jump
πΈ July 2023 showed an average of 187 prospective tenants registering on average compared to 127 in July 2022
πΈ Figures last month were up almost 38 per cent year on year, a continued trend that is predicted to show no signs of slowing
πΈ Stock levels remain challenging with the number of properties available to rent per member branch increased slightly in July to an average of 14
πΈ This is way below what is needed to keep up with current demand
π© For Propertymark's full report, click here π©
For information on maximising your rental income whilst ensuring all legalities are 100% up to date... Email Finance and Compliance Director Scott Sneath scott.sneath@cavendishproperty.co.uk (pictured below).
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