Rental supply falls for first time in three years, Zoopla reveals
Summary
Zoopla reports that UK rental supply fell in July for the first time in three years, with enquiries per listing rising and average rents increasing again. The report attributes the tightening market mainly to scarcity of available homes, with regional pressures strongest in London and parts of northern England, while Wales has seen a relative easing in growth.
Why it matters
Residential surveyors with PRS exposure should note the renewed tightening in rental conditions, as it may affect rental assumptions, investor sentiment and landlord decision-making. The article also highlights how mortgage rates and the Renters’ Rights Act are influencing supply dynamics, which is relevant to market commentary and valuation context.
Key points
- Rental supply fell 3% in July, the first decline in three years.
- Enquiries per rental listing rose to 5.3, the highest level in almost two years.
- London, Yorkshire and Humberside saw stronger rent growth amid falling supply.
- Zoopla says scarcity, not new regulation alone, is the main driver of higher rents.
- Higher mortgage rates and longer renting by would-be first-time buyers are supporting demand.
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