Seaside resorts see biggest rental shortage as tenant competition quadruples

Love or Hate Rightmove
  • The Isle of Wight has seen the biggest decline in the number of available rental properties compared with summer 2019, with UK holiday resorts making up the top ten list of most affected areas
  • Competition among tenants for available properties is quadruple that of 2019 on average in the top ten areas, and in some cases as much as six times higher, as some landlords temporarily switch to short-lets
  • Rightmove predicts stock levels will start to be replenished over the next few months as summer holidays end and landlords look to secure long-term tenants

New data from the UK’s biggest property website Rightmove reveals the effect the staycation boom is having on the rental market across Great Britain.

Seaside towns and other holiday resorts have seen the biggest decline in available properties to rent when compared with the summer of 2019, with the Isle of Wight topping the list with a fall of 82% in available rental stock.

The analysis of over 400,000 rental listings compares available rental stock in June and July 2021 with June and July 2019, to measure current rental availability against pre-pandemic levels.

The shortages have led to a surge in competition among tenants who are looking for a long-term place to rent, with an average uplift of 317% in tenant demand for each property across the ten areas that have seen the biggest declines.

The change in tenant competition is measured by the number of tenants enquiring in an area on Rightmove compared to the number of available rental properties in that area.

Competition is more than six times higher in Blackpool (+517%) and has more than quadrupled in the Isle of Wight (+376%) and Cornwall (+345%).

Tim Bannister, Rightmove’s Director of Property Data comments: “Landlords in the typical tourist destinations around Britain have been chasing the huge surge in demand for holiday lets this summer, which has led to a temporary drop in the stock available for permanent tenants. However, as the summer holidays are coming to an end, agents are now reporting more landlords turning their attention to longer-term tenants as a more secure and stable option for the rest of the year and into 2022. The value of a good tenant should not be underestimated, and with the competition for rental properties in these areas so high right now, it could be a good time for landlords to take stock and consider their best longer-term option.”

Rightmove

UK Property news updates shared directly from Rightmove PLC - the country's leading property portal.

You May Also Enjoy

Breaking News

Modern rental properties command premium of 18%

New data analysis by FCC Paragon reveals that renters who want to enjoy the many benefits of living in a modern property are facing a rent price premium of up to 18%. Modern homes come with a number of benefits, including increased energy efficiency for lower household bills, less chance of experiencing frustrating maintenance issues,…
Read More
Estate Agent Talk

The Ultimate Guide to Selling Your Home: Smart Pricing, Stylish Upgrades, and Strategic Marketing

Selling a home is more than listing it online and waiting for offers—it’s about crafting a compelling narrative that captures buyers’ interest and motivates them to act. From pricing strategies to final staging touches, this article breaks down advanced, actionable tactics that help homes sell faster and for a higher price. Let’s explore how you…
Read More
Breaking News

Prime London property values slide by as much as 60%

The latest market analysis by prime London property brokerage, Jefferies London, has revealed that sold prices across some of prime London’s most popular neighbourhoods have fallen by as much as 60% so far this year when compared to the same period in 2024. Jefferies London analysed sold price records from the Land Registry, looking at…
Read More
Breaking News

Can’t afford London? These cities are giving investors more for less

New data has revealed that between four and ten of all buy-to-let purchases made in the first four months of 2025 took place in the Midlands and the North of England. With affordability scarcer than ever in the South, property investors are turning their attention to greener pastures… literally. So, what’s driving the shift up…
Read More
Breaking News

£19m per month for the nation’s most prestigious property

The latest research by award winning mortgage adviser, Alexander Hall, has revealed that whilst a property close to Royal Ascot will see the average homebuyer pay £4,263 a month in mortgage costs, this monthly payment climbs as high as £19m a month for those with ambitions of snagging a real royal property. This week, Royal…
Read More
Breaking News

Glenigan Summer Forecast: Boom Times Ahead For UK Construction

Construction intelligence specialists predict major performance uptick over the next three years. UK construction sector set to grow 24% over the forecast period Private housebuilding is set to increase significantly, with an 18% activity increase predicted in 2027 Industrial & Commercial gradually strengthens as UK economic growth gathers pace, supported by increased business investment Increased…
Read More