Rental supply climbs 15% despite landlord uncertainty
The latest research from Dwelly has found that, despite what has been an incredibly uncertain year for landlords – marked by political back and forth over the Renters’ Rights Act, its eventual approval, and the additional 2% tax hit delivered in last week’s Autumn Budget – there are currently 15% more rental homes available to tenants than at this time last year.
Dwelly analysed available rental market stock across every county in England, comparing listing volumes in December of last year with the current market landscape, to reveal how rental supply has shifted over the past 12 months.
The findings show that, nationally, rental stock levels across Great Britain are up year on year. In fact, total available rental listing numbers have increased from 123,669 in December of last year to 142,644 this December, marking a 15.3% uplift.
Just three counties across England have seen a reduction in rental property availability compared to last year. These are Shropshire (-3.3%), East Riding of Yorkshire (-4.7%) and the City of London (-28.5%), with the latter seeing the most notable decline.
In contrast, many parts of the country have experienced significant expansion in rental supply.
The largest increases over the past 12 months have been recorded in East Sussex (+44.8%), Northamptonshire (+42.7%), West Sussex (+37.7%), the Isle of Wight (+36.1%) and Cumbria (+33.6%), each of which has seen rental availability rise sharply year on year.
A further 21 other counties have seen rental market supply increase by more than 20% and this increase suggests a market that is stabilising rather than contracting, even as landlords face rising compliance demands and higher tax burdens.
Sam Humphreys, Head of M&A at Dwelly, commented:
“It’s been an exceptionally turbulent year for landlords, so the assumption might be that rental stock would fall as investors rethink their position. Instead, our analysis shows quite the opposite. There has been no knee-jerk withdrawal of homes from the sector and, in fact, renters today have more choice than they did this time last year.
This increase in available stock is a positive sign for tenants and a reminder that, despite the challenges introduced by the government, many landlords remain committed to the sector.
At Dwelly, we continue to support letting agents and their landlords with the operational improvements needed to navigate this new landscape, ensuring that rental supply remains strong and responsive to demand.”
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