A new survey of 700 landlords from a respected buy to let lender reveals the regions with the strongest levels of tenant demand.
Paragon Bank says in the third quarter of this year some 29 per cent of landlords reported rising interest from renters - the highest number since 2016.
It was in the North West and South West where rental numbers were most buoyant with the survey finding 44 per cent of landlords seeing growth. Next came the East Midlands on 40 per cent.
However, in central London just 16 per cent of landlords saw growth in the last three months - although outer areas of the capital were stronger.
Richard Rowntree, Paragon’s mortgages managing director says: “The record levels of tenant demand we saw reported by the likes of Rightmove and Zoopla when the market reopened in May has started to feed through to landlords as tenants reassess where and how they want to live.
“Central London is clearly seeing the impact of Airbnb-style landlords moving property into long-term lettings, as well as a desire for larger properties.
“Outside of London, demand is buoyant from the East of England, where 27 per cent of landlords are reporting growth in demand, to the North East and South West, where nearly half of respondents are telling us they are seeing positive growth.”
He adds: “We expect this to continue for the foreseeable future and there’s a number of factors we’re seeing at play. For example, there’s been growth in homeowners taking advantage of strong prices and selling to move into rented, people are looking to secure a new home ahead of entering a potential second lockdown, whilst students left it late to secure property for the new academic year.”
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