UK Rental Property Listing Time Falls as Tenants Race for Homes

The period of time that available rental properties are listed before tenants snap them up has fallen significantly compared to 2019 levels.

The ongoing supply-demand imbalance in the private rental sector has continued to pressure tenants as competition for quality homes heats up and rental prices soar.

Analysis of Zoopla data by estate agency Savills has shown that high demand is causing renters to make quick decisions on applications. On average, properties are listed for 25 days on the market, ten days less than the pre-pandemic average.

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So, is now a good time to invest in buy-to-let property?

The supply-demand imbalance has been a defining factor of the UK rental market over the past few years and one of the biggest drivers of unprecedented rental price increases.

Richard Valentine-Selsey, director of residential research at Savills, said: “There is not enough supply coming onto the market, and we need more investment in the sector to bring more homes available to rent.”

According to Savills’ latest Housing Market Update, the average UK rent is up 6.9% annually, showing that the supply-demand imbalance continues to push rental costs upward. This figure is even more significant in other regions. In the North West, where competition is particularly fierce for available rental properties, there has been an increase of 8.5% year-on-year, contributing to some of the highest rental yields in the UK.

Learn more about the UK property market with our buy-to-let area guides, which cover topics such as available investment property in Colchester and available investment property in Belfast.