ARLA Finds Supply Of Rented Homes At Its Lowest Ebb

The supply of rental properties has dropped to its lowest level in a year, according to the Association of Residential Letting Agents (ARLA). In its January Private Rental Sector (PRS) report, the organisation found that there were an average 172 properties available to rent per member branch – the lowest level since it began keeping such records a year ago. The figure is 10 properties fewer than in December 2015. Meanwhile, demand for rental accommodation picked up in January with an average of 31 prospective tenants now registered per branch. However, it has not returned to the high levels reported in January and February last year, ARLA said, when there were 38 and 40 tenants registered per branch respectively. Read more on the Housing Excellence website.