4 in 5 (81%) landlords throughout Yorkshire & the Humber are experiencing robust tenant demand, indicating that there’s robust competitors for each property within the area.
In distinction, London and the East Midlands see decrease figures at 64% and 63% respectively.
Pegasus Perception, which carried out the analysis, advised extra tenants are staying put, sharing, or remaining with household, in dearer areas of the UK.
Bethan Cooke, director of Pegasus Perception, mentioned: “Even after an 11% drop, over seven in ten landlords are nonetheless seeing robust tenant demand, which exhibits simply how aggressive the rental market stays.
“Nevertheless, the truth that demand has eased for the primary time shortly suggests we could also be at a turning level. For landlords, this might imply much less scope for lease will increase in some areas, particularly the place affordability is already stretched.
“That mentioned, demand ranges stay far above these of 5 years in the past, and the basics of the non-public rented sector are nonetheless stable. The query is whether or not that is the beginning of a sustained rebalancing between provide and demand, or only a short-term pause within the face of wider financial pressures. Both method, landlords and lenders will probably be watching intently.”
Total, tenant demand dropped barely within the second quarter, nevertheless it’s nonetheless thought of to be at a powerful stage.
