15 July 2016
Tenants ‘seeing boost in rental property supply’
Private tenants in England and Wales are receiving more properties to choose from, according to new figures.
The amount of newly-marketed rental properties rose by 8% between April-June 2015 and April-June 2016.
Rightmove reports that London renters are particularly getting a better supply. The capital's number of newly-marketed rental homes mushroomed by nearly a quarter (22%) year-on-year, between 2015's second quarter and the corresponding time-frame this year.
The site puts this down to buy-to-let (BTL) investors snapping up homes before stamp duty rates went up at the start of April for second property buyers.
Estate agents say that many of the homes they have sold were to BTL investors.
Sam Mitchell, lettings head for Rightmove, says the new figures come too early to evaluate what effect Brexit has had on the rental sector.
The official says that, for now, the latest statistics indicate that things are going ahead as normal for renters looking for a home.