Tenant demand continues to increase

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Tenant demand now outstrips supply in all areas of the rental market, a new Arla study has revealed.

The quarterly survey found that achievable rents have risen in all areas and that rent levels are now at an all-time high.

This means that, despite rising house prices, landlords have also seen the return on the asset value of property increase.

According to the study, average rents for houses ranged from £819 a week in prime central London to £230 in the UK as a whole.

In addition, the survey showed that 73 per cent of all tenants remained in the same rental property for between ten and 18 months.

Finally, the data showed that typical void periods for rental property fell to just 23 days - down from 31 days during the winter of 2003.

"These figures are consistent with the traditional cycles that are alwaysunderlined by the private rented sector when house prices soften," explained Ian Potter, newly appointed Arla operations manager.

"Demand for rented accommodation rises. Once again, the sector is acting as the only viable safety valve for housing as a whole and bridging the gap between owner-occupation and the various provisions for social housing."

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