The rental market in the UK appears to be softening

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01st February 2012

The rental market in the UK appears to be softening

New research, carried out by the Association of Residential Letting Agents (ARLA), revealed demand for such accommodation is easing; while the number of tenants having trouble paying their rent is on the rise. According to the investigation, 55 per cent of ARLA members reported greater numbers of tenants than available properties in the final quarter of last year - a marked decrease on the 74 per cent recorded in the previous three-month period. During this time, 39.2 per cent of those questioned also claimed to have dealt with more people struggling to keep up with their monthly rent payments.

Tim Hyatt, president of ARLA - formed in 1981 - stated: "With household income decreasing and job uncertainty prevailing, it
could be that increasing rental arrears is a sign that the wider economic malaise is having a tangible impact on personal finance." The industry figure noted the drop in demand for rental homes may have come as a result of the pre-Christmas period, which is a traditionally quiet spell.