Revealed: The UK city with the most challenging rental market

Revealed: The UK city with the most challenging rental market

0:01 AM, 9th December 2024, About a month ago

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Bradford has been named the nation’s least accessible rental market in a new report.

According to tenant app Tlyfe, only 1.2% of rental properties in Bradford are currently listed to rent, with just 500 out of 42,700 private rental dwellings in the West Yorkshire city available.

The Tlyfe report analysed current rental listings and compared them to the total stock of private rental dwellings across 12 major cities in England.

Rental market is more balanced in Leeds and Newcastle

According to the data, across Greater Manchester 2.4% of rental stock is currently available to tenants, followed by 2.9% in London. Tlyfe says the data reveals that properties aren’t listed for long before being quickly snapped up by tenants.

According to the report, Nottingham offers the highest availability of rental properties, with 13.8% of homes currently on the market.

The rental market is more balanced in Leeds and Newcastle, where 9.3% and 6.3% of rental homes are available.

Across Sheffield (5.8%), Brighton (5.6%) and Bristol (5.6%) between 5% and 6% of all rental homes are up for grabs for new tenants.

Lack of supply

Chief Executive of OpenBrix, Adam Pigott, whose company also launched Tlyfe , says the lack of supply and high demand is making it harder for tenants to find a property.

He said: “Finding a value-for-money rental property can feel like a rat race, as you compete with other eager tenants for what is essentially a limited level of rental stock.

“As our research shows, the rental market is particularly competitive in Bradford, Manchester and London, meaning aspiring tenants in the cities face a far tougher time than most when it comes to securing a rental property.

“This emphasis on speed makes it imperative that tenants take steps to make themselves attractive to landlords ahead of time, by securing references, undertaking a credit check, and supplying proof of income”

However, Tlyfe also points out that despite the high demand in London and Manchester, there are still thousands of properties to choose from.

In Manchester, tenants typically have around 5,800 properties to choose from in the current market, while this number climbs to 34,000 in London.


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