Contact us today

Please enter your first name.
Please enter your surname.
Please enter your telephone number.
Please enter a valid email address.
Please provide some details about your enquiry.

2017 will see fewer homes to let and higher rents, claims ARLA

Members of the Association of Residential Letting Agents predict a fall in the number of homes be...

Members of the Association of Residential Letting Agents predict a fall in the number of homes being available to let next year - and higher rents as a result. 
ARLA managing director David Cox says that the drop in stock will be down to the longer term effects of this year’s stamp duty surcharge, while the increase in rents will be down to a factor of reduced supply, and attempts to recover monies lost to landlords through the restrictions on mortgage interest tax relief and the expected ban on letting agent fees applied to tenants.

Demand will continue to rise, and with less stock available for prospective tenants, competition will be high in 2017 says ARLA’s forecast - and to make matters worse for new entrants, mortgages will be tougher to come by because of stricter criteria being forced upon lenders.
“Following the announcement of an outright ban on letting agent fees during the Chancellor’s Autumn Statement, we expect rent prices to rise and tenants to be forced to look for properties in cheaper areas” says Cox. 
“The government continues to lash out against the private rented sector to cover its own failure to build the number of homes this country needs. Such policies will have a detrimental effect on the very people the government aims to help the most. As a result, we predict 2017 will be a raw year for renters” he warns. 

Back to the blog

Related Posts

Coronavirus Information

The wellbeing of our clients, staff and their families - together with continuity of service to clients - is of paramount importance. Outlined below are the precautionary measures we have taken to minimise the risk to our clients, staff and others.

For more information click here

Coronavirus Update Hide