Buy To Let league table reveals where demand is strongest
A rental management platform has compiled a league table of where tenant demand is strongest for homes to let – and the results are not as many would have predicted.
The platform Howsy looked at rental listings across the major portals and cross-analysed demand in 23 major UK cities as well as each borough of London, based on the proportion of rental listings snapped up by renters as a percentage of all listings available online.
By doing so, it claims to have identified where the hottest pockets of the rental market exist.
Newport is home to the highest level of tenant demand with 35 per cent of all rental homes listed on the major portals already let.
Bristol remains one of the most in-demand cities for rental properties at 34 per cent with Nottingham and Cambridge (both 33 per cent) and Belfast (25 per cent) making up the top five.
Plymouth, Portsmouth, Bournemouth, Leicester and Manchester complete the top 10.
Aberdeen remains the least sought after area for rental properties in the UK with tenant demand at only five per cent followed by Swansea on eight per cent.
Within the capital, Bexley, Bromley, Sutton and Lewisham are the hottest boroughs for tenants with 38 per cent of all rental stock listed online already being snapped up.
Merton, Croydon, Greenwich, Haringey, Enfield and Kingston upon Thames are also amongst the most popular.
“The buy to let sector may have had a rough ride of late but the UK rental market is still heavily relied upon by many in order to put a roof over their head and as a result, many cities still provide a great opportunity for investors due to the lower levels of available stock and consistently high tenant demand” explains Howsy chief execute ve Calum Brannan.