Rise in properties added to lettings market
The number of rental properties on the market has seen a rise, rman.co.uk reports.
New research from Experian showed that during Q1 2012, the number of rental properties entering the market rose, whilst sales volumes declined.
The report claimed that the number of properties offered on the lettings market rose by 6.34 per cent in 2012 on figures collected in 2010. Sales, meanwhile, saw a decline of 2.53 per cent over the same period.
More properties being advertised for rent means that high demand in the sector could slow down, putting significantly less pressure on prospective tenants heading to letting agents.
In January alone, more than 60,000 properties were added to the rental market. Over the first quarter, a total of 172,290 properties were added to the market nationwide.
Where sales was concerned, the number of new properties fell from 191,892 in the first quarter of 2011 to 187,046 in 2012. The numbers did see a month-on-month growth, however, rising from 55,284 in January to 63,177 in February and 68,585 in March.
Wales, Scotland and the North-West saw some of the highest rises in properties put up for sale, whilst London and the Midlands seeing some of the largest rental rises, lettingagenttoday.co.uk claims.