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 the North-East and North-West, where higher proportions of respondents reported an increase in rental property coming on to the market because it cannot be sold (67% and 62% respectively). More than 60% of members in Scotland, Wales and Northern Ireland also noted an increase.
In contrast, the figure was lowest in central London (17%).
Source: ARLA
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