- House Prices
Dawn Clarke, lettings director at Nock Deighton estate agents, says there is a growing shortage of rental properties – with those that do come onto the market being snapped up almost instantly.
“We’re finding, especially this year, that demand is far exceeding the number of properties we have coming in,” she says.
“As soon as we put a property onto our website, we are inundated with inquiries. Properties are flying out the door.”
Mrs Clarke says the number of inquiries to the firm, based in Bridgnorth, Ironbridge and Telford, in recent months has increased by something like 25 per cent, in part due to pent-up demand following the coronavirus lockdown.
But at the same time, the number of landlords is dwindling.
“I would say over the last two years, we have probably had about 10 per of landlords who have decided to sell up,” she says.
Mrs Clarke says the growing number of rules that landlords must comply with is a major factor in this. “All the governments introduce new legislation, but it’s making it more and more difficult for landlords to invest in property,” she says.
“There have been 15 new pieces of legislation introduced in the last five years.
“The problem is we have such a huge demand for rental properties. In this area it’s going to be a problem.
“The Government needs to look at providing some kind of support for landlords as well.”