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Tenancy Increase Picks Up Residential Letting MarketWednesday 30th September, 2009According to a new report by the Association of Residential Letting Agents (ARLA) the number of new tenancies are increasing, meaning the residential rental market is beginning to stabilise. Results from the latest ARLA survey of its members show that the decline in the number of tenants, which led to a surplus of properties to rent is coming to an end. Even better news is the fact ARLA members are becoming much more confident in the state of the buy-to-let sector. While only 19 percent of agents responded to a survey question in the affermative, which asked them whether they felt there was a healthy balance between supply and demand in the last quarter, this proportion is now 33 percent. More than 8 in 10 ARLA members (83 percent) were able to register a minimum of 10 tenancies over the past 3 months, whereas early this summer, the same figure stood at 79 percent. Although most ARLA members were able to register well above this minimum threshold, with the average number of tenancies signed over the past quarter rising from 32 to 36. If you are a would be landlord wanting to invest in property in Southampton, a business landlord with an established portfolio, or looking to rent a property in Southampton while you work or study then please contact Tenant Direct on 02380 332230. |