Research by Rightmove done recently showed an evident rise in the demand for rental properties in Great Britain. Figures show a 22% increase at the current moment, compared to the same period last year.
The likely cause is increased importance during the lockdown of three significant milestones.
– Many relationships breaking down
– More relocations born of urgency
– Lost jobs
All these factors combined add pressure to the rental market, which is already hefty with tenants that have postponed moves during a time of restrictions.
Similar research by Goodlord shows identical results. The supply of rental properties is just not able to keep up. The area with the most significant rise in the South West, seeing 34% increased demand in comparison to 2019. The Goodlord research also indicates that there are increases of rents in North East, Wales and East Midlands between 3% and 6%.