Rental mar­ket at eight-year high

Yorkshire Post - Property - - NEWS -

The av­er­age void pe­riod – a key in­di­ca­tor of the buoy­ancy of the rental mar­ket – has fallen to its low­est level for eight years as de­mand for rental prop­erty re­mains high.

Com­pared with the pre­vi­ous quar­ter as part of the As­so­ci­a­tion of Res­i­den­tial Let­tings Agent’s (ARLA) sur­vey of mem­bers, the av­er­age void pe­riod has again fallen from 3.6 weeks to 3.2 weeks.

The av­er­age num­ber of new ten­an­cies signed up com­pared to the pre­ced­ing sur­vey has also in­creased in line with sea­sonal trends.

Ian Pot­ter, op­er­a­tions man­ager of ARLA, says: “The rental mar­ket is in­cred­i­bly strong at the moment for those work­ing within the in­dus­try but for those con­sumers who are re­ly­ing on the Pri­vate Rental Sec­tor for hous­ing, the cost of rent­ing must be of con­cern.

“The new govern­ment must en­sure that fi­nance is made avail­able to the sec­tor, so that more prop­er­ties can be brought into the PRS and en­sure that more rental homes are made avail­able.”

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.