Unsaleable new build flats flooding rental market, says ARLA
A rise in accidental landlords is contributing towards a surge in availability of smaller, newer flats and maisonettes to rent, according to the Association of Residential Letting Agents.
ARLA said that 43.4% of agents are seeing an increase in this type of property coming on to the rental market because their owners are finding them impossible to sell.
It warned that the trend may not be positive news for all tenants, particularly families with children who now make up a quarter of private renters.
Ian Potter, managing director of ARLA, said: “Because of the state of the sales market in many parts of the UK, we are seeing this kind of smaller new-build property flood on to the rental market.”