Average 20 viewings for each rental property listing, research reveals
Rental properties are attracting around twenty viewing requests on average according to data commissioned by the BBC, published this week.
The figures, which are from property portal Rightmove, highlight the imbalance of homes available to rent in the PRS.
According to the data, the number of requests to see each home has more than tripled from six in 2019. Queues to view properties are even longer in certain regions, with an average of 30 viewings per property in the North West of England.
The data echoes research published by the NRLA in May of this year, which revealed the soaring demand for rental homes in England and Wales.
Research by BVA BDRC, commissioned by the NRLA, found that 67% of landlords said demand for properties from prospective tenants was increasing.
Despite this, the research also revealed the supply of homes to rent is also decreasing. In the first quarter of 2023, 33% of private landlords in England and Wales said they planned to cut the number of properties they rent out.
What is the NRLA calling for to tackle to supply crisis?
The problem of a lack of homes to rent was raised by the NRLA’s CEO Ben Beadle directly with the Housing Secretary Michael Gove during a speech he gave on housing in London on Monday.
Ben asked the Minister about plans to address the supply and demand imbalance in the private rented sector.
The Housing Secretary responded by saying:
“I know that every part of the housing market including the private rented sector is under pressure at the moment, again principally but not exclusively, because of the rise in interest rates and we’re sensitive to that and always looking to see how we can help everyone in every part of the sector."
You can see the questions Ben asked and the responses to these by watching this video, at around the 38-minute mark.
The NRLA has been campaigning tirelessly on the issue of supply, and has called for the Government to launch a full review of taxes affecting the private rented sector to determine what pro-growth measures should be introduced to resolve the supply crisis.
It is also calling on Government to reinstate Mortgage Interest Relief, which it believes would encourage landlords to remain in the sector and continue to invest.
- You can read more about the NRLA’s campaigning in this area here.
