Bunk’s Rental Demand Index: Which UK city is the most in demand for rental properties?
Leading lettings platform, Bunk, has looked at where across the UK is the most in demand when it comes to the rental market and the stock available vs tenant demand.
Bunk looked at rental listings across all of the major property portals and took an average score for the nation’s major cities based on which had the highest number of properties already let as a percentage of all listings.
The research highlights where the highest level of tenant demand currently is based on this supply/demand ratio.
The latest data shows that Bristol tops the table as the most in-demand city for tenants in the UK, with 50% of all properties listed as already having a let agreed and therefore taken.
Newport in Wales is the next highest with a demand score of 39%, with Nottingham, Plymouth, Cambridge, Portsmouth and Bournemouth all scoring above 30%.
Oxford (29%), Manchester (26%) and Glasgow (25%0 complete the top 10 hottest spots.
The least in demand? Aberdeen with just 8% of all properties on the major portals listed as already let. Newcastle and Edinburgh were also home to a tenant demand score below 15%.
Leeds, Swansea, Liverpool, Cardiff, Belfast, London and Sheffield also ranked amongst the least in demand cities.
In London, Havering is the most in-demand borough with a tenant demand score of 43%, joined by Lewisham. Sutton, Bromley and Bexley also scored 40% or higher.
Kensington and Chelsea is the least in demand borough at just 9%, with prime central London also accounting for the second and third lowest demand scores in Westminster and Hammersmith and Fulham.
Co-founder of Bunk, Tom Woollard, commented:
“Bristol may not stack up to London in terms of size and status but the city’s youthful, vibrant image has made it a firm favourite amongst tenants and it has previously been voted one of the best cities to live in across the UK.
Bristol has become a popular choice for the younger generations in particular and this is driving rental demand in the city, not only from the surrounding local area, but from much further afield as well.
We’re starting to see a real change in the rental market with a number of the more alternative cities coming to the forefront in terms of popularity. The likes of Bristol, Nottingham and Plymouth are becoming great rental hubs for those looking for a great place to live, without paying through the roof as they would in London or the more established major cities.”
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Ranking – top 10 by demand
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Location
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Rental demand
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Bristol
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50%
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Newport
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39%
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Nottingham
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36%
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Plymouth
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34%
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Cambridge
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34%
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Portsmouth
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32%
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Bournemouth
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30%
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Oxford
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29%
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Manchester
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26%
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Glasgow
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25%
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Ranking – bottom 10 by demand
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Location
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Rental demand
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Aberdeen
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8%
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Newcastle
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14%
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Edinburgh
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14%
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Leeds
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16%
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Swansea
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16%
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Liverpool
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18%
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Cardiff
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21%
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Belfast
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21%
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London
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21%
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Sheffield
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22%
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Ranking – top 10 by demand
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Borough
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Rental demand
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Havering
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43%
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Lewisham
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43%
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Sutton
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42%
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Bromley
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42%
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Bexley
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40%
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Waltham Forest
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39%
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Merton
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37%
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Croydon
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36%
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Greenwich
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33%
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Barking and Dagenham
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31%
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Ranking – bottom 10 by demand
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Borough
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Rental demand
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Kensington and Chelsea
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9%
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Westminster
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10%
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Hammersmith and Fulham
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17%
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Camden
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18%
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Barnet
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20%
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Brent
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20%
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City of London
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21%
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Ealing
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21%
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Harrow
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23%
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Tower Hamlets
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24%
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