Market commentator and TV property expert Phil Spencer has made an impassioned plea for help for the private rental sector.
In the latest Housing Insights report produced by Propertymark, Spencer – who runs the Move iQ consumer service, which is a partner of Propertymark – writes: “For renters, there are key indicators that suggest that rent levels have peaked in certain areas of the country, which may provide some with the reassurance that their rent will potentially better stabilise.
“However, we know that in general, across the UK as a whole, demand is far outstripping supply of homes within the private rented market, and to ultimately make renting more affordable in the long term, Governments need to encourage and support investment rather than overstretch landlords beyond their ability to operate moving forward.
“In my view, the current situation presents a serious and urgent challenge for society at large, influencing the decisions and options available to individuals across the board.
“It’s not just tenants or landlords who are affected – the consequences are already being felt by both current homeowners and those hoping to enter the property market. As it stands, the state housing system is struggling to keep up, and without meaningful change, the crisis will only deepen.”
Elsewhere in the Propertymark report, which relates to April data, the average number of tenants registering per member branch sat at an average of 93 – roughly no change from the previous month. However the average number of properties available for rent jumped to 13.46 per member branch in April. This represents a two-year high.
The average number of tenants seeking each available property in April was seven.
On the sales side Propertymark reports that activity dipped in April following the frenzied activity in March to beat the change in stamp duty levels.
The average number of new prospective buyers registered saw a dip to an average of 87 per member branch in April. There was a dip, too, for the average number of viewings per available property – 2.3 over the month.
Supply of new homes coming to the market was 13.6 per Propertymark branch, the same as a month earlier, and stock levels remained at 42 properties per branch.
The average number of appraisals conducted per member branch in April stood at 27, slightly up from 24 a month earlier.
