UK cities see rise in rental demand in third quarter of 2020
Demand for rental homes across the UK’s major cities has increased +13% since the second quarter of this year, according to Howsy.
The lettings management platform looked at rental demand across 20 major UK cities in the third quarter of 2020 and compared it to quarter two.
Belfast has seen the largest increase in demand from renters, up +31%, followed by Glasgow (+29%), Bournemouth (+26%) and Bristol (+21%).
At the other end of the scale Aberdeen (+1%), Leeds (+4%) and Leicester (+4%) have seen the lowest uplift in demand from renters in the last three months.
Tenant demand in London has increased by 10% over the last three months, however, a number of the capital’s peripheral boroughs have seen a stronger uplift, including Kingston, which has seen demand from tenants rise 18%.
Founder and CEO of Howsy, Calum Brannan, said: “Despite some tenants finding themselves in financial difficulty due to the current pandemic, demand for rental properties continues to climb across the UK’s major cities as many still require a roof over their heads and have the financial stability to secure one.
“This will be welcome news for landlords who have had a tough few months with little to no help from the Government. With a ban on evictions now over, they can attempt to return to normality and claw back some income on their bricks and mortar investment.”