Rental Market Squeeze: Why Fewer UK Homes Are Available to Rent
Despite the overall number of rental properties in the UK remaining relatively stable—around 4.87 million in 2024 compared to 4.85 million in 2017—the availability of rental homes on the market has declined sharply in many regions. This isn't because landlords are exiting en masse, but because fewer properties are being listed as tenants are staying put longer. With rents rising due to high demand and limited supply, tenants are less inclined to move, reducing turnover and leaving fewer options for those entering the market.
Here’s how the regions compare in terms of change in rental availability:
- North East: Down 49.3%
- Wales: Down 41.3%
- South East: Down 24.5%
- East Anglia: Down 19.2%
- North West: Down 18.3%
- Yorkshire & the Humber: Down 18.1%
- East Midlands: Down 13.1%
- South West: Down 12.5%
- West Midlands: Down 7.7%
- London: Down 7.6%
- Scotland: Up 6.1%
- Northern Ireland: Up 2.5%
Interestingly, regions like Scotland and Northern Ireland have bucked the trend, experiencing slight increases in rental availability.
This trend reflects a wider issue: the rate at which properties are coming to market for rent is slowing, even as the total stock grows marginally. For Frome landlords, this poses a challenge in balancing tenant demand and landlord expectations. The market must adapt to ensure mobility and opportunity for renters in the face of these shifts.
If you are a Frome landlord and want some advice and opinion on how this will affect the local Buy-to-Let property market, don’t hesitate to contact me on 01373 489888.
