You are here: Home - Mortgages - Buy To Let - News -

Tenant demand at all-time high, landlords say

Written by: Anna Sagar
The proportion of landlords reporting growing tenant demand has reached a high for the second time this year.

According to research from Paragon, which surveyed around 700 landlords, 65% reported a net increase in tenant demand over the past three months.

This is up from 62% reported in the first quarter of the year.

Within the figure, 39% of landlords said tenant demand had “increased significantly”, which the lender noted was the highest since it started tracking this back in 2011.

No landlords said demand had decreased significantly, which is a survey first.

Regionally, tenant demand growth was significant in South West, Wales and outer London. Net increases in tenant demand was 88% in the South West, and 84% in Wales and outer London respectively.

Significant rise in tenant demands since pandemic

The report revealed there had been a “consistent and significant rise” in tenant demand since the low net increase of 14% in Q2 2020.

Over 2021, tenant demand rose 31% in Q1 and 56% in Q4. In 2022, net increase tenant demand has been over 60%.

Moray Hulme, mortgage sales director for Paragon Bank, said: “We’ve seen demand for privately rented homes climb consistently since the pandemic. The fact that the all-time high we reported earlier this year has now been surpassed supports our view that the private rented sector remains an essential component of UK housing provision.

“Renting appeals to people of different demographics and from all walks of life but the flexibility and relative affordability of rented accommodation means its value is even more apparent at what is an economically challenging time for many.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

How to help others and donate to food banks this winter

This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week