Lack of rental property 'continues'

Posted: 13 Jul 2011 12:03:01 GMT

The UK rental market is being threatened by an undersupply of property, it has been found.

There continues to be a significant lack of property supply for the UK rental market, new figures have shown.

According to the latest Association of Residential Letting Agents (Arla) research, the imbalance of supply and demand in this sector is still very much apparent.

The statistics revealed that 74 per cent of members reported there were more prospective tenants than there were houses available during the second quarter of 2011.

This compares with just ten per cent stating the same two years ago.

Ian Potter, operations manager at Arla - which was formed in 1981 - said many different parties are reporting a significant shortage of rental accommodation.

"To work towards a solution, [the] government needs to look seriously at ways of incentivising investment into the PRS [private rented sector] to increase the number of properties available for rent," he added.

Mr Potter claimed the administration also needs to decide how best to regulate this popular housing option.
 

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