Supply and demand issue for tenants

Rent: Property portal

MoveStreets has revealed how tenants are struggling to find rental properties at a time of high demand.

MoveStreets found that 40 per cent of tenants described their recent hunt for a rental home as difficult and half of them also said it took far longer than they expected before they were able to secure a property. In the last decade, rental stock in the private rental sector has increased by 23 per cent to 5.4m homes. However, at the same time, the number of renters has risen by 24 per cent, meaning there are now more than 12.8m tenants reliant on the sector.