Demand for private rental housing is on the rise, according to new research by the National Residential Landlords Association (NRLA).
The survey found that 57 per cent of landlords in England and Wales believe demand for homes to rent increased in the third quarter of 2021 – up from 39 per cent in the second quarter of the year and just 14 per cent during the first lockdown in 2020.
London landlords saw a particularly significant shift in demand as workers returned to the capital. In central London, 54 per cent reported increased demand, up from 16 per cent at the same time last year, while 68 per cent of outer London landlords said demand had risen, up from 25 per cent a year ago.
However, the same proportion of landlords (19 per cent) plan to reduce the number of properties in their portfolio as plan to increase them.
Ben Beadle, Chief Executive of the NRLA, called for support for the sector to prevent mismatched supply and demand leading to unaffordable rents: “As demand picks up following lockdown measures, we need a stimulus to support responsible landlords to provide the homes to rent we vitally need. Without this it will ultimately be tenants that suffer as a result of less choice, higher rents and the resulting difficulties they will encounter when looking to become homeowners”.
Meanwhile, the latest English Housing Survey (EHS) has found that private tenants are remaining in their homes for longer. The EHS, the largest survey of the private rented sector, found tenants had lived in their home for an average of 4.3 years- up from 4.1 years in the 2017/18 survey.
Read more about this story on the Property Reporter