Houses account for almost two-thirds of properties experiencing high rental demand across England, according to new analysis from Rushbrook.
The residential property management specialist analysed 15,583 properties it identified as experiencing strong tenant demand and finds houses collectively account for 65.7% of the total.
Detached homes make up 27.3%, semi-detached properties account for 22.8% and terraces represent a further 15.6%.
Flats remain the largest individual property type at 34.3%, but the figures suggest tenant demand extends well beyond the traditionally flat-led rental markets of larger towns and cities.
REGIONAL DIVIDE
The South East accounts for the largest share of the high-demand properties identified by Rushbrook, with 4,191 representing 27% of the national total.
London follows at 18%, or 2,869 properties, while the East of England accounts for 16%.
However, the type of property attracting demand differs considerably between regions.
Flats account for 71.9% of high-demand rental properties identified in London, while houses make up 64.9% in the South East and 77% in the East of England.
The divide is even greater in the East Midlands, where houses account for 97.4% of the high-demand properties identified, including 52.6% that are detached.
CHANGING TENANT NEEDS
Roma Sharma (main picture, inset), Managing Director of Rushbrook, says: “The lettings landscape has evolved considerably in modern times and whilst flats remain the most in demand property type within the rental market, we’re now seeing higher demand for alternative property types such as larger houses.
“This is down to the fact that people are renting for longer and across a much broader range of life stages, with affordability issues with respect to homeownership preventing many from making the move onto the property ladder. As a result, their housing requirements are increasingly diverse.”
Sharma adds that landlords need to consider more than tenant demand when investing, with maintenance, compliance and property management also important to reducing void periods and protecting longer-term performance.
