Rental market shortage in UK

Demand for rented accommodation is running at record levels across the UK property market and stock levels are in short supply according to letting agents up and down the country.

The number of people turning to the rental market is still on the increase due in part to the stricter lending conditions covering UK mortgages and the continuing uncertainty in the economy. Job security appears to be the main worry along with rising prices affecting day to day living costs.

Up to date research of the private rental market reveal three quarters of lettings agents have too few properties available for the high numbers of prospective tenants looking for accommodation and more than 80 per cent of agents working in the central London property market report an undersupply of homes to let. Yet just two years ago undersupply only affected around ten per cent of members of the Association of Residential lettings.