UK Rental Market Enjoys Increased Demand - ARLA

The latest figures revealed by the Association of Residential Lettings Agent (ARLA) suggest that property voids in the United Kingdom reach 8-years low as it fell to 3.2 weeks from 3.6 weeks. The lowest void period was registered in the South East as it only constituted 2.9 weeks.

Commenting on the statistics, Mr. Potter of ARLA said that the number of new tenancies agreed in this quarter also increased significantly.

He added that the British rental market has greatly recovered from the levels it was in the beginning of 2009. The void levels and the number of new tenancies currently stands at the best level ever registered in the past 10 years.

Lettings agencies and landlords from different regions of the UK report increased activity. As such, Demand for all types of Norfolk property is said to be very high, whereas supply of 1- and 2-bedroom apartments in Glasgow and Edinburgh is too low to meet the demand. The same situation can be seen in such cities as Devon and Wolverhampton as the number of enquiries exceeds the number of listed rental properties.