Rental Strife – Queuing for a Viewing
Competition in the private rental sector has more than tripled. Data commissioned by the ´óÏó´«Ã½ shows there are 20 requests, on average, to view each home available to rent.
Data commissioned by the ´óÏó´«Ã½ shows there are 20 requests, on average, to view each home available to rent. The figures from the property portal, Rightmove, show competition in the private rental sector has more than tripled compared with before the pandemic. Agents say the trend is being driven in part by the growth in demand for accommodation by students and workers. And potential homeowners - faced with high mortgage rates - are choosing to rent for longer. But also the number of available homes is being cut as landlords decide to leave the sector.
In this episode of our podcast 5 Minutes On Rental Strife, our cost of living correspondents Colletta Smith and Kevin Peachey have been to the north-west of England and London, where the situation is most acute.
(Image credit – ´óÏó´«Ã½)
