ARLA calls for action to tackle rental shortage
Thursday 19th July 2012
ARLA is calling for urgent action to tackle the under-supply of rental homes.
ARLA says that more than half (58%) of its member agents say there are more tenants than properties available.
This proportion has increased from 55% of members at the end of 2011. Demand is reported to be highest in the South-East (excluding London), where almost two thirds (65%) of members say demand is outstripping supply.
Just over a third (35%) of ARLA agents are reporting an increase in ‘accidental landlords’ – rental property coming on to the market because it could not be sold. However, this proportion is down on the 47% of agents reporting an increase at the end of last year.
ARLA President Jane Ingram said: “Our members are telling us that in much of the country there is still significant demand for rental property, especially from would-be first-time buyers, who simply can’t afford to get on to the housing ladder.”
She added: “Urgent action needs to be taken to ensure everyone who needs a home can find one, and at an affordable price.
“We are concerned that, as more and more people become desperate for a home they can afford, unethical landlords and lettings agents will take advantage of the most vulnerable tenants.”
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