The private rental sector (PRS) is nearing its capacity, newly-released research has found. Figures from the Association of Residential Letting Agents (Arla) has found 74 per cent of rental agents think demand is outstripping supply.
Because of this, property owners may want to turn to builders in Leeds to prepare dwellings for multiple occupancy. Tim Hyatt, president of Arla, stated the PRS cannot be expected to continue to produce enough homes for people to live in.
“There is a finite amount of rental property and unless both housing supply and mortgage availability improves then renters will find … their options in the market are reduced,” he added.
Mr Hyatt has called on the government to do more to encourage more landlords into the market. It comes after a recent study by Arla found 35 per cent of UK landlords do not know what the energy performance of their homes is.