Rental demand and stock levels drop across the vast majority of UK cities due to lockdown

The latest research by lettings management platform, Howsy, has revealed that demand for rental properties and the stock available to meet this demand has fallen year on year across the majority of UK cities and London Boroughs, as the spread of the Coronavirus pandemic and the precautions implemented by the Government prevents many tenants from transacting.

Howsy gauged tenant demand across each city based on rental listings listed across each of the major property portals, looking at the number of homes with a let already agreed as a percentage of total properties listed. Howsy also looked at total listings on the market and how this had changed to see what impact the pandemic has had on the supply side of the market.

See all data tables on rental stock levels and tenant demand here.

Rental Stock

When comparing current levels of rental stock to this time last year, there has been a decline of -12% across the UK’s major cities, while in London this drop is more pronounced with -20% less rental properties now on the market.

Belfast (-57%), Cambridge (-36%) and Newport (-27%) have seen the largest declines, although Nottingham and London also place in the top five. However, Edinburgh, Swansea, Leicester, Sheffield, Leeds, Southampton and Plymouth have all seen more rental homes hit the market.

In London, all areas but the City of London have seen a decline in property stock hitting the market, with Barnet the worst hit with a drop of -31%, followed by Croydon (-23%) and Ealing (-19%).

See all data tables on rental stock here.

Tenant Demand

When comparing tenant demand to this time last year, there has been a drop of -5% across 23 major UK cities and by -3% across London as the Coronavirus pandemic brings an unseasonal market freeze.

Every city in the list has seen a decline, except for Belfast where a huge reduction in stock levels has seen demand actually increase by 16% and Portsmouth and Newcastle where demand remains flat with no annual change, while in London, just eight London boroughs have seen an increase in demand.

The largest declines where the UK’s major cities are concerned has been in Oxford and Plymouth, where demand has dropped -11.3% since last year.

In London, the City of London has seen rental demand reduce by -10% year on year, while Southwark and Tower Hamlets are also down -8%.

See all data tables on tenant demand here.

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Breaking News

UK house prices growing by 2.5% according to Halifax

Nathan Emerson, CEO of Propertymark: “This slight dip in house prices will likely have been influenced as a direct consequence to the current state of the global economy. There will always be a need for people to move house regardless of international trading relations; however, many aspiring or current homeowners will no doubt be discouraged…
Read More
Breaking News

UK house prices dip slightly in May, but market remains steady

Average property price now £296,648 compared to £297,798 last month Annual rate of growth slows to +2.5% from +3.2% in April Overall house prices have remained stable so far this year Northern Ireland continues to lead annual price growth in the UK Amanda Bryden, Head of Mortgages, Halifax, said: “Average UK house prices fell by…
Read More
Breaking News

Estate Agent Content

Do you think that your estate agency / property business requires content? Is content marketing still a thing in 2025? Are you concerned if anyone will read your words? Is it worth investing in estate agent content? Businesses with blogs generate 67% more leads than those without. As competition for attention online increases it remains…
Read More
Breaking News

The cost of voids rises by £200 for England’s landlords

The latest analysis by Dwelly, one of the UK’s leading lettings acquisition and success planning experts, has found that landlords have been hit with a 26% increase in the cost of void periods in the past year, equivalent to lost income of almost £200. Dwelly analysed average void period data from March 2024 and March…
Read More
Breaking News

Breaking Property News 5/06/25

Daily bite-sized proptech and property news in partnership with Proptech-X. Demand Rises for Housing and Infrastructure Projects Rising demand for housing, infrastructure and energy projects across Wales has driven continued growth at Lichfields’ Cardiff office, which this year marks 25 years in the capital. The team of 17 planning professionals is one of the largest…
Read More
Breaking News

Construction continues to enjoy a season in the sun

Underlying performance is on the rise during Q.2 2025 Today, Glenigan, one of the construction industry’s leading insight experts, releases the June 2025 edition of its Construction Index. The Index focuses on the three months to the end of May 2025, covering all underlying projects, with a total value of £100m or less (unless otherwise…
Read More