ARLA: Rental sector downturn is a fabrication

News Category: Industry News

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The number of new tenancies has grown dramatically recently, new data has revealed, as landlords benefit from surging demand for rental accommodation.

Research conducted by the Association of Residential Letting Agents (ARLA) found that, over the last three months, new tenancies have risen by 20 per cent.

This has in turn boosted rental returns, which for houses and flats rose from 4.8 per cent to 4.9 per cent over the course of the three-month period.

Furthermore, void periods are running at just four weeks per year, while existing tenants are increasingly staying longer in properties.

Ian Potter, head of Operations at ARLA, said: "This steady rise in rental growth that we see yet again, coupled to clear evidence that there is no unusual selling, proves once again that the credit crunch effect on the private rented sector exists only in the imagination.

"This isunderlined by the short void periods and length of time that tenants stay in rental properties."

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