Private residential lettings 'in short supply'
Date posted: 24 Aug 2010
There is currently a short supply of private residential lettings in the UK, it has been claimed.
Published by Tim Hill
There is currently a "short supply" of private residential lettings, according to one sector source.
Mark Garner, director and founder of LettingZone, said there are approximately the same number of tenants looking for property as there were a year ago, though the supply of property is down by between 20 and 50 per cent.
His comments follow a report by lettings agent network LSL Property Services, which revealed that the average cost of letting a home rose by 0.5 per cent during last month to £676, which is 2.3 per cent higher than a year ago.
Mr Garner explained that good properties are letting "very quickly", while landlords can like achieve another three to five per cent on the rent levels of a year ago.
He added: "All areas of private residential seem to be in short supply, so are buoyant at the moment. However, landlords who take Local Housing Allowance tenants are all reviewing their position before taking any more."
Please contact Michaela Henson, Head of Property for further information or call 01223 225178.
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Head of Property Sector
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