A league table of major cities with supply of rental properties lagging behind demand has come up with an unlikely Number 1 – Bradford.
In that city just 1.2% of rental stock is currently available to rent, with 500 private rental dwellings out of 42,700 in the West Yorkshire city listed to let as of yesterday.
The analysis comes from the app Tlyfe which looked at current rental market listings up for rent and what proportion of all private rental dwellings stock this represents.
Only 12 cities were analysed by after Bradford come Manchester and London.
Across Greater Manchester 2.4% of rental stock is currently available to tenants, followed by 2.9% in London, indicating that properties aren’t listed for long before being snapped up by tenants.
Things are also more balanced in Leeds and Newcastle, where 9.3% and 6.3% of all rental homes are currently available respectively.
Across Sheffield (5.8%), Brighton (5.6%) and Bristol (5.6%) between five and six percent of all rental homes are up for grabs for new tenants today.
A spokesperson for Tlyfe parent firm OpenBrix says: “Finding a value-for-money rental property can feel like a rat race, as you compete with other eager tenants for what is essentially a limited level of rental stock.
“As our research shows, the rental market is particularly competitive in Bradford, Manchester and London, meaning aspiring tenants in the cities face a far tougher time than most when it comes to securing a rental property.
“This emphasis on speed makes it imperative that tenants take steps to make themselves attractive to landlords ahead of time, by securing references, undertaking a credit check, and supplying proof of income.
“If you’re not sure where to start with this process, we’ve designed the first platform in tlyfe that can help you get truly ‘rent ready’, putting you ahead of the rest before you apply.”