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News: Five tenants competing for every rental property

Wed, 09 Nov 11

Demand for rental property has surged to another record high as would-be first-time buyers fail to make it on to the housing ladder.

Property firm Countrywide says tenant demand for each UK property in the third quarter was up 11.9 per cent on the second quarter and 10.8 per cent on a year ago.

The number of viewings per property was up 17.8 per cent on the second quarter and properties let in just 12.7 days, an average of half a day quicker.

Countrywide said an average of five tenants were competing for each property despite a marginal increase in the number of homes available.

Source: AboutProperty.co.uk

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