On Average Rental Properties Are Taken Within 15 Days

The UK’s largest letting agency chain Countrywide claims that private rental properties are being let on average within 15 days, five days quicker than a year ago.

Furthermore there are on average 4.4 tenants competing for each property across the country, with the Southwest showing the greatest demand with an average of 5.9 interested tenants per property.

In the last quarter of 2010, Countrywide also said the number of new tenants registering for rental accommodation increased by 14% compared to the same period in 2009. The total number of new tenants overall registering for rental accommodation exceeded 200,000 last year – a record high with new tenant registrations increasing by 37%, which peaked between July and September 2010.

The demand has led to agents across the UK reporting a big lack of property to let out, with the average supply of properties available to let per branch falling by 29%.

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