Friday News #0126 – Fierce Competition For Record Low Stock Continues, Says Rightmove

As the number of properties available to rent continues to dwindle across the UK, rental yields are being pushed higher, meaning stronger returns for existing landlords.

The gap between the demand for housing and the supply of new properties is a large void that the existing pipeline of developments will not fill for many years to come – the outlook for investors is positive.

Here’s what we’ve seen in the news this week:

Plummeting Supply In Lettings Market Sees Tenants ‘sprint For Stock’: Over the last six weeks, the tenant’s market has become a landlord’s market as supply continues to fall and demand has hit record highs. Read more.

Double Digit Annual Rent Rises In Many Parts Of Britain: Rents across Britain continue to bounce back according to the Hamptons agency. The average rent of a new let rose 7.4 per cent or £75 in August compared to the same month in 2020 to stand at £1,085 pcm. Read more. 

Fierce Competition For Record Low Stock Continues, Says Rightmove: Fierce competition continues among buyers for the record low number of available properties for sale, according to the latest Rightmove House Price Index, which reports that agents had an average of 49 properties on their books in August compared with 58 in August 2020. Read more.  

Residential Transactions Up Over 20% In August: Government figures show that, totalling 98,000, residential transactions in the UK during August 2021 were 20.8% higher than in August 2020. On a monthly basis, transactions of this type increased by 32%, the data adds. Read more.