Tenant demand increasing to record levels

Tenant demand is increasing to record high levels across the UK.

Tenant demand across the private rental sector is at record high levels, according to the Paragon Bank, buy to let specialist.

A survey of 600 landlords assessing the market in the third quarter of 2021, shows that 69% have recorded increasing levels of demand, a 36% of them stated the increase was ‘significant’.

Increases were particularly strong in the South West and South East outside of London (79 and 74 % respectively)

In the North East, a total of 59% of landlords indicated experiencing an increase in demand.

In London, the figure falls to a 54%, but there’s some slight increase in demand for the central areas of the city.

Paragon Bank managing director Richard Rowntree said: “Landlords have been recording rising levels of tenant demand following the first lockdown, which reflects the shift in housing need created by the virus.”