There has been a sharp rise in the number of people living in private rental homes, owed in part to a lack of new stock to buy, according to haart
The independent estate agency reports that pent up demand has led to 28 buyers chasing every instruction across London, and 12 across England and Wales, and this has resulted in greater demand for private rental homes.
The number of tenants registering with haart increased by more than 30% on the year in London, the latest data shows.
Paul Smith, CEO of haart, said: “A lack of new homes to move into is also forcing large numbers into rental accommodation. In fact, we have seen a 30% increase in tenant demand on the year in London. Landlords who are considering selling up should bear this in mind.
“The reality is that tenant demand will always outstrip rental supply, and the yields to be gained are still far more favourable and a safer bet than the majority of other investment opportunities available.”