Supply of rental properties in London slumps
Figures published by ARLA Propertymark reveal that the number of properties available to rent in London is now 46% below the national average.
The data suggests that tenants are finding the task of securing a rental property is becoming increasingly difficult because landlords are increasingly being priced out of the capital.
During the month of January, the average number of properties managed by London letting agents stood at 99, compared with a national average of 184.
David Cox, ARLA Propertymark’s chief executive explained, “he rental market in London should be thriving – the capital is a hub for business and culture and attracts a huge influx of new residents every year. But the prospect of being a landlord is becoming less tenable, as potential buy to let investors are deterred by increased taxes and ever more complicated legislation – and higher property prices in London are making it becoming more and more difficult for landlords to make ends meet.”
Full story available in LettingAgentTODAY: https://www.lettingagenttoday.co.uk/breaking-news/2018/2/alarm-bells-ring-as-arla-warns-of-london-rental-supply-slump?source=newsticker