Rental market 'suffering from lack of supply'

The sheer number of people wanting to rent at the moment means that there are not enough properties available, one expert has emphasised.

Editor at Property Hawk, Chris Horne, highlighted that students in particular are in search of areas that will offer good quality student accommodation, which may not be easy to find.

"The high cost of borrowing money relative to interest rates still means that it is expensive for landlords to buy more property," he continued.

Mr Horne stressed that in the short-term at least, there will be a shortage of landlords willing to plug this particular gap in the market.

The Association of Residential Letting Agents reported earlier this month that an undersupply of good quality property is threatening the UK rental market.

In the second quarter of this year, 74 per cent of members reported that there are more prospective tenants than there are properties available.

Published on: July 18, 2011

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