The proportion of landlords to report a rise in tenant demand has reached a record high for the second time this year, according to new research commissioned by Paragon Bank.
The research – based on the views of 700 landlords – revealed 65% of respondents observed a net increase in tenant demand, surpassing the previous record of 62% seen in the first quarter of this year.
Some 39% of landlords said demand ‘increased significantly’, the highest proportion since 2011.
Just 1% of respondents felt demand ‘decreased slightly’, and zero respondents found demand ‘decreased significantly’, a survey first.
At the regional level, 88% of landlords reported rising demand in the South West, while landlords in both Outer London and Wales reported an 84% uptick.
On the results, Moray Hulme, mortgage sales director at 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.”
