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

Rightmove logo
Breaking News

Rightmove’s Weekly Mortgage Tracker – 18/09/25

Average rates for 2-year and 5-year fixed-rate mortgages   Term Average rate Weekly change Yearly change 2-year fixed 4.54% +0.02% -0.44% 5-year fixed 4.56% +0.01% -0.05%   Lowest rates for 2-year and 5-year fixed-rate mortgages   Term Lowest rate Weekly change Yearly change 2-year fixed 3.75% +0.00% -0.24% 5-year fixed 3.89% +0.00% +0.12%   Average…
Read More
Planning disputes on new build land
Estate Agent Talk

Slowdown in planning applications and decisions

Property lawyer says “The government have had a year to make improvements to house building and have not made any progress.” Housing Secretary Steve Reed has announced a “building acceleration package” to speed up house building in England after new figures revealed a slowdown in planning applications and decisions. David Smith, property litigation partner at…
Read More
bank of england interest rate
Breaking News

Bank of England’s holds interest rates at 4%

With the Bank of England’s decision to hold interest rates at 4%, here are some thoughts from the Industry.   Matt Smith, Rightmove’s mortgage expert: “A Base Rate hold today had looked fairly nailed on, especially after yesterday’s news that inflation remains stuck at 3.8%. The later-than-usual Budget is very much on the horizon, and…
Read More
Breaking News

Breaking Property News 18/09/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Exodus of Landlords – means lower supply and increased rents’ MPs have taken the Renters’ Rights Bill a major step closer to Royal Assent, confirming the scrapping of Section 21 “no-fault” evictions and the end of fixed-term tenancies, which will now convert into open-ended…
Read More
Breaking News

Energy Rules Without Power: Tenants and Landlords Both Question EPC Impact

New research from LRG reveals that both landlords and tenants are struggling to engage with the Energy Performance Certificate (EPC) system, raising serious questions about whether it can deliver on its intended goals ahead of the government’s 2030 targets. While landlords overwhelmingly support the principle of improving energy efficiency, confidence in the system designed to…
Read More
New Builds 2020
Breaking News

New Build Home Enquiries Double in Summer 2025 

From June to August 2025, Compare My Move’s conveyancing data shows a 120% increase in new build home purchase enquiries compared to the same period in 2024.  This surge reflects not only more people looking to buy homes overall but also a higher share of buyers choosing new builds. On average, 12% of purchase enquiries in…
Read More