More reluctant landlords put properties up for rent
The number of homes coming on to the rental market because they cannot be sold is increasing, ARLA has reported.
During the third quarter of last year, nearly half (47%) of ARLA member agents surveyed reported a rise in the number of ‘unplanned’ lettings by home owners unable to sell their property, or who are holding off until a higher price is achievable.
The proportion rose from 40% at the beginning of last year.
The ‘unplanned lettings’ trend was particularly noticeable in Wales/Scotland, where higher proportions of respondents reported an increase in rental property coming on to the market because it cannot be sold (65.3%).
In contrast, the figure was lowest in central London (17%).