The third edition of the Rental Market Report, from property market analysts Hometrack is out now. It draws on price and demand data from across the UK and provides a barometer of the rental market.
This quarter’s report focuses on the relative resistance of the rental market when compared to sales. Demand has rebounded after the initial coronavirus decline, and Hometrack hasn’t yet seen any mass withdrawal of properties from the rental market.
Headlines this quarter:
- The impact of coronavirus saw a 57% fall in demand for rental housing in the two weeks to 30 March. The fall in demand has since bottomed out and rebounded 30%, off a low base, in the two weeks to 14 April
- Rental supply increased ahead of the lockdown as landlords switched from the short to the long-let market but the growth in new supply has since slowed
- There has been no mass withdrawal of rental properties listed to let, down just 3% compared to 1 March
You can read the full report and download a PDF version from the Hometrack website.