In their recent quarterly report the Association of Residential Letting Agents (ARLA) Licensed members increased by 10% in the final quarter of 2014 compared to the third. Demonstrating growth in the buy-to-let sector, the number of landlords purchasing properties also exceeded the number selling with the former rising from 27% to 30% and the latter falling from 32% to 23% over the last three months.
However, ARLA are quick to point out that demand still outstrips supply. David Cox, managing director of ARLA observed that “this quarter we’re seeing promising signs that the market is taking small steps towards achieving a better balance between supply and demand, or at least it is easing slightly”.
Increased numbers in the private rented sector demonstrates a shift towards renting from buying. This is partly due to affordability within in the housing sector as well as more consumers looking to gain from the flexibility and benefits that rental properties and the emerging rental communities can provide.
PRS Capital are driving the increase in private rented sector properties by investing in areas requiring housing and infrastructure to support developments.