If you own vacant and empty propertry and you are trying to let your house will be pleased to hear the news from Countrywide, the UK’s largest lettings and property services group. They say that the number of tenants looking for rental accommodation has grown by 15% in Q2 2011 compared to the same period last year.
The group’s latest quarterly research into the private rental sector (issued 03/08/1), found that despite marginal increases in new rental property coming on to the market, demand continues to outstrip supply with an average of five tenants competing for each available rental property. This high demand means that tenants are snapping up property in record times- an average of 13.3 days.
Countrywide operates more than 1,300 estate agent and lettings offices across the UK and has uncovered some significant changes in the types of property available to rent with increasing availability of larger homes. Properties with three or more bedrooms now account for 41% of all rentals.