Housing supply and demand surprisingly strong in June

There was strong activity in terms of prospective tenants and housing supply in June, ARLA Propertymark’s June Private Rented Sector report has found.

The number of properties managed per branch reached an all-time high last month, with an average of 200 properties managed per letting agent branch. However, this still represented a slight fall from 208 in May.

Meanwhile the average branch registered 79 new tenants per branch, compared to 70 on average in May and 71 in June last year.

Phil Keddie, president, ARLA Propertymark, said:

“Our latest figures show that the rental market is continuing to pick up following the Covid-19 lockdown.

“The record-breaking supply of rental stock and demand from tenants for this time of year paints an optimistic picture for the summer months, indicating that the market will be more active than the usual seasonal lull.

“As the market continues to recover from the pandemic, it’s essential that everyone continues to keep up with their rent in order to sustain the market and help boost the economy during these uncertain times.”

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Main article photo courtesy of Pixabay