The residential lettings market continues to grow from strength to strength, with the news that stock levels are increasing year on year.
Research from Experian has revealed that there were 58,000 more properties available to rent in 2011 than in the same timeframe in 2010. The prospering letting industry is in contrast to the sales market, which experienced a drop of 12,000 available properties for sale in 2011, compared to the previous year.
Further research showed that the volume of properties that were marketed to let increased in every quarter in 2011, peaking at Q3 with an increase of 14.46%, compared to 2010.
This research is complimented by the figures published yesterday by which mirrors that of Experian’s findings.
Overall, the total number of flats to rent across the UK that were marketed by Lettingweb increased in 2011, compared to 2010.
Focusing on England, volume of properties that were available to let through Lettingweb increased in every quarter in 2011, with Q1 posting an increase of 31.10%, while Q2 was just as impressive with a 29.67% increase, compared to 2010.
This trend continued throughout the rest of 2011, giving an overall increase of 24.17% in English properties that were marketed to let in 2011, compared to the same period in 2010.