Too few homes available to rent
THE Association of Residential Letting Agencies (ALRA) has warned that too few good quality properties are straining the UK rental market to the limit, with supply failing to match demand.
According to ARLA, during the second quarter of this year 74 per cent of members reported that there were more prospective tenants than properties available – a figure that jumps to 82 per cent in central London.
By comparison, just two years ago 10 per cent of members (8 per cent in central London) reported an undersupply of rental homes.
ARLA operations manager Ian Potter said: “The Government needs to look seriously at ways of incentivising investment into the private rented sector to increase the number of properties.”