The number of reluctant landlords is falling, according to ARLA.
Over the past three months, ARLA agents have reported a decrease from 26% to 21% in the proportion of rental property coming on to the market because it cannot be sold.
This also represents a sharp drop of 21% on the figure of 42% recorded last year.
In its Q3 survey of ARLA members, 524 agents gave their views on the market.
The agents say that tenants are still faced with strong competition for rental homes: 52% of ARLA members said there were more tenants than properties available. However, the proportion is down from 54% in the previous quarter.
The south-east (excluding London) has the highest proportion of members reporting more tenants than properties (67%). By contrast, only 17% of London agents themselves reported more tenants than properties.
Ian Potter, managing director of ARLA, said: “Much has been written recently about the recovery of the residential sales market, and it would appear that these effects are now being felt in the private rented sector.
“While the departure of accidental landlords from the sector will be a good thing for the individuals concerned, there is a real and ongoing worry about the level of rental property supply across the country.”
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Comments
This doesn't actually mean a decrease in reluctant landlords though does it? As some 40% of Landlords are already reluctant that figure has now been added to by a further 21% of properties coming into the market. So the real effect is an increase. Which at the coal face means Landlords without a professional approach and generally the group creating 90% of the issues for both agents and tenants.