Bloomberg - UK’s Shortage of Rental Properties Will Not Ease in the Near Future

According to Bloomberg Intelligence, the UK's rental supply-demand imbalance is likely to worsen in the short-term. Data from Rightmove indicates that the number of available rental properties in London has plummeted by 46% since 2019. 

Iwona Hovenko, the real estate analyst at Bloomberg Intelligence, believes the supply-demand gap will only continue to widen. Hovenko notes that private landlords are leaving the sector due to the high taxation, interest rates and the steep costs of bringing their properties up to energy efficiency standards. The shortage of qualified labour and high costs of materials are only making this task more challenging. 

Additionally, these same factors are also affecting the supply of new homes. Hovenko also suggests that some potential buyers may be holding off on making a purchase until house prices fall. As a result, the rental market is feeling the strain of increased demand at a time when supply is dwindling.

Back to Blog

Related Articles

Breaking Records: UK Rents Soar to New Heights After 13 Quarters of Growth

According to the latest data from Rightmove, the average asking rents for new tenants outside of...
Read More

UK Rental Market Hits Record Highs Amid Supply Shortage

The latest data from Rightmove highlights an unprecedented surge in rental prices across the UK,...
Read More

Rents Surge to New Highs as Tenant Demand Soars - Insights from Sky News

While much attention has recently been on the impact of soaring interest rates for mortgage...
Read More