Landlord insurance clients will be encouraged by research from the Association of Residential Letting Agents showing a real shortage of property available for rent. The ARLA report, published on 13th July shows that 74% of their members reported more prospective tenants than properties available. In central London the figure was even higher at 82%. This is a marked increase on the situation two years ago when only 10% of ARLA members reported an undersupply of rentals (8% in London).
Whether you are planning to rent or buy it seems that you will be faced with a struggle. To raise a mortgage you will need a large deposit and to rent you will be in competition with all the other people in the same position.
All this sounds like good news for landlords- tell us what you think of the lettings market in your area. If you needinsurance for landlords click here