20,000 new tenants register for rental accommodation in July

Countrywide

Thursday, August 26, 2010

Countrywide, the UK's largest letting agent has seen the number of tenants' entering the market reach unprecedented levels.

John Hards, Co-Managing Director of Countrywide Residential Lettings said;

"In Q2 we saw over 50,000 new tenants applications and in July alone we saw over 20,000 new tenants. 
Whilst we have seen a marginal increase in the number of rental properties entering the market, the demand from new tenants is a growing concern. If demand continues to rise at the same rate, the shortage of properties available will force more tenants onto waiting lists, which will further exacerbate the problem.

"The buy-to-let sector remains a good source of investment, however, the government needs to do more to incentivise new landlords in order to appease the current shortage of properties."

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