The level of reluctant landlords is declining; ARLA agents have reported a 5% decrease in homeowners putting their property up for rent when it cannot be sold in the past 3 months.
This figure also presents a 50% drop compared to the number of reluctant landlords last year (42%).
ARLA also reported that 52% of its members had more tenant applications than available properties in the last quarter. The South-East of England has reported that 67% of ARLA agents have more applications than properties.
This figure is likely to rise in the new year when the government roles out the help to buy scheme across both new build and old properties. Although this will benefit many landlords who cannot sell, it does increase the likelihood of further reductions in properties available to rent in the private sector.