Shortage in Rental Properties Leads To Record Rents – 3.5% Annual Increase In The South West
Rightmove’s latest Rental Report and Price Tracker is a useful source of accurate and up-to-date information. The latest report concluded that:
” > There are a number of forces at play in the current rental market, all leading to record rents for tenants and fewer homes to choose from, yet demand remains strong.
> Worryingly for tenants there are signs that the stock shortage may worsen.
> Almost a third (30%) [of Landlords] are still planning to increase their portfolio, with the majority of those saying that property still delivers better returns than other investments.”
Whilst this report is very much applicable to Dorset and will certainly be of interest to potential Landlords and Buy-To-Let investors, it will be a frustrating read for many Tenants. Here at Harker & Bullman we would love to help more people find their dream home but we simply don’t have enough properties to offer as everything is letting so quickly.
Should the private sector be relied on to the current extent or should there be a bigger push towards the creation of more social housing? It remains to be seen whether the private residential house building in and around Wimborne will be enough to satisfy the current levels of demand and slow the rates as which rents are rising.